GLOBAL MARKETS-Asia shares consolidate, China cuts another interest rate [Reuters]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
Asia shares consolidate, China cuts another interest rate 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 .MIAPJ0000PUS edge up 0.3% to a fresh one-month top. Shanghai blue chips .CSI300 , however, eased 0.2%. Japan's Nikkei .N225 was still off 0.5%, though that followed a 3% jump the previous session. E-Mini futures for the S&P 500 ESc1 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, appearance
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