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The People’s Bank of China (PBoC) reported that banks could reduce the reserve adequacy ratio and that measures to support the economy could intensify.
Despite the aforementioned pigeon deferments, China’s stock markets declined due to the new type of corona virus (Covid-19) outbreak going on in the country.
Manufacturing PMI dropped below 50 for the first time since January 2021 to 49.4, indicating a contraction in manufacturing, while the main index rose to 97.5, according to macroeconomic veri announced today from Japan. .
On the other hand, the Central Bank of South Korea raised the official rate by 25 basis points to 3.25 percent in line with expectations.
With these developments, China’s Shanghai Composite Index fell 0.25% to 3,089 points and South Korea’s Kospi Index rose 0.96% to 2,441 points.
In Japan, the Nikkei 225 index rose by 0.95% to 28,383 points, while the dollar/yen parity is trading at 139.00, just below the previous closing level.
Hong Kong’s Hang Seng index rose 0.76% to 17,657 points, while India’s Sensex index rose 0.6% to 61,878 points.