News Snapshot:
China stocks closed up after Beijing promised a cut in the reserve requirement ratio, while Hong Kong and Tokyo were buoyed by falls in US bond yields Asia’s major markets were on the front foot on Thursday after a Wall Street recovery but worries about the ongoing impact of raging inflation, the war in Ukraine and China’s Covid surge weighed on investors. Chinese stocks closed up after the country’s cabinet said Beijing would use timely cuts in banks’ reserve requirement ratios (RRR) and other policy tools to support the economy, amid the worst Covid-19 outbreak in two years. The State...
