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China's Rate Cut Hits Powers Rise In Stocks

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As global equities rallied after the Chinese central bank cut rates to shore up faltering growth in the world's second-largest economy, Asian stocks on Monday were close to wiping out all their losses since China's shock currency devaluation in August. Japan's Nikkei rose 1.0 percent to a two-month high. South Korea's Kospi gained 0.4 percent. The Australian shares edged up 0.3 percent. Having risen more than 10 percent from its two-year low hit less than a month ago, the MSCI's index of the world's share markets shot up to its highest level in more than two months on Friday.

Added on the 25/10/2015 22:08:28 - Copyright : Wochit

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