Asia Stocks Mostly Rise As China Rate Cut Offsets Us Data

TOKYO (AP) — Asian stock markets were mostly higher Monday as a weekend interest rate cut by the Chinese central bank lifted sentiment following the release of lackluster U.S. growth data. "News of China's rate cut should help buyer mood this morning, compensating for a weak lead from the US market," said Ric Spooner, chief market analyst at CMC in Sydney. [...] while news of lower borrowing costs will help support equity valuations and be seen as a positive for commodity demand, market response may be limited. In some senses this rate cut is a technical response to the fact that lower inflation is making real borrowing costs more expensive in China. Brent crude, a key indicator for global oil prices, fell 42 cents to $62.16 a barrel in London.

Topics:  tokyo ap     asian   chinese   u.s    news   ric spooner   cmc   sydney   brent   london   in   china   data   rate cut   market   response   costs   
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