Market Commentary - Foreign Markets
Chinese markets end slightly higher after rate cut As on : 21-Oct-24  16:45

Asian stocks turned in a mixed performance on Monday as China's central bank once again cut interest rates and the country's banks slashed borrowing costs to combat the country's stubborn economic slump.

The dollar fell as global finance chiefs gather in Washington this week amid intense uncertainty over wars in the Middle East and Europe, and uncertainty around the U.S. presidential election.

Gold reached another record high while oil prices recovered some ground, after having fallen nearly 8 percent last week on China demand concerns.

Israel opened up a fresh military assault on Hezbollah's strongholds in Lebanon, a day after a drone exploded next to Prime Minister Benjamin Netanyahu's private home.

Israel has already vowed to retaliate against Iran for a missile attack at the start of October.

China's Shanghai Composite index ended 0.20 percent higher at 3,268.11 after a volatile session as the People's Bank of China cut the one- and five-year LPRs by 25 basis points to 3.1 percent and 3.6 percent, respectively.

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