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China cuts rates and reserve ratio after stocks plunge again

Economists say move aimed at real economy rather than stock markets

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Volatile global markets showed tentative signs of a respite on Tuesday as bargain-hunters helped Asian stocks off three-year lows, though share markets in China, epicentre of the rout, suffered another big sell-off.

Shanghai

CHINA'S central bank cut interest rates and lowered the amount of reserves banks must hold for the second time in two months on Tuesday, ratcheting up support for a stuttering economy and a plunging stock market that has sent shock waves around the globe.

The moves came

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