 New Zealand and Australia Dollar rise appreciably in Asian session today , , buoyed by a significant rebound in stock markets of China and Hong Kong. This positive momentum is largely attributed to the ripple effects of China's larger-than-expected interest rate cut earlier in the week. Hang Seng Index, in particular, showcased a robust increase of around 3%, reflecting renewed investor confidence. This upbeat mood was further amplified by visible signs of China's "national team" ramping up efforts to stabilize the stock market through strategic interventions, evident from the notable increase in assets within leading exchange-traded funds. At the same time, the offshore Chinese Yuan is also strengthening, now eyeing a breakthrough towards 7.2 level against Dollar... |
