Asia shares fall on China’s modest rate cut


Source: reuters.com reuters.com

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HONG KONG, June 20 (Reuters) - Stocks in Asia fell on Tuesday as investors worried China's latest rate cut was not enough to boost confidence in the weakening economy and awaited a wider stimulus package by Beijing. China, in a highly anticipated move, cut two key benchmark lending rates for the first time in 10 months on Tuesday, with its one-year loan prime rate (LPR) lowered by 10 basis points to 3.55% and the five-year LPR cut by the same margin to 4.20%. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.69%. China's benchmark CSI edged down 0.03%....