China stimulus boosts market sentiment
Regional bourses cheer move by China's central bank; STI closes at 3,200.13, up 43.56 points or 1.4%
Add BT as a preferred sourceASIAN equity markets managed to spend an additional day basking in the sun, building on Tuesday's recovery as traders grew confident of policy support efforts by China's central bank to combat the economic effects of the fast-spreading coronavirus.
Singapore's Straits Times Index (STI) opened flat but made steady gains across the session to finish at 3,200.13, adding 43.56 points or 1.4 per cent.
It was similar elsewhere in the region as Australia, China, Japan, Hong Kong, Malaysia, South Korea and Taiwan ended up. Boosted by the People's Bank of China's stimulus efforts, the Shanghai Composite Index added 34.80 points or 1.3 per cent to 2,818.09.
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