Asia shares consolidate, China cuts another interest rate [Reuters (UK)]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
Asia shares consolidate, China cuts another interest rate - Reuters 4 Min Read SYDNEY/NEW YORK (Reuters) - Asian share markets took a breather on Wednesday as warnings of the worst global recession since the 1930s underlined the economic damage already done even as some countries tried to re-open for business. China moved again to cushion its economy, cutting a key medium-term interest rate to record lows and paving the way for a similar reduction in benchmark loan rates. While not unexpected, it did help MSCI’s broadest index of Asia-Pacific shares outside Japan edge up 0.3% to a fresh one-month top. Shanghai blue chips, however, eased 0.2%. Japan’s Nikkei was still off 0.5%, though that followed a 3% jump the previous session. E-Mini futures for the S&P 500 dipped 0.5%, following a 3% rise in New York. “Flattening infection curves and the thoughts of more stimulus have lifted all boats,” said Stephen Innes, chief global market strategist at AxiCorp. “However, appearances can be dece
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