Chinese markets rally over 3% on economic stimulus - Breaking The News
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Chinese markets rally over 3% on economic stimulus

EPA-EFE/ALEX PLAVEVSKI

Markets in Asia region rose in Tuesday's afternoon trading with Hong Kong's Hang Seng rallying over 3%, fueled by surges in property stocks, after China introduced a set of monetary easing measures, including cutting the interest rates on existing individual mortgages by an average of 0.5 percentage points.

The Hang Seng soared 3.78% at 7:06 am CET. In mainland China, the Shanghai Composite surged 3.31% at 7:07 am CET and the Shenzhen Composite climbed 2.42% at 7:00 am CET.

Japan's Nikkei 225 jumped 1.01% at 7:10 am CET and South Korea's Kospi added 0.90% at the same time. Meanwhile, i Australia, the S&P/ASX 200 lost 0.19% at 7:11 am CET, after the country's central bank decided to keep interest rates unchanged.

The dollar gained 0.30% against the yen to go for 144.0445 at 7:12 am CET.

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