Asian stocks jumped today (April 21th), boosted by upbeats sessions in Europe and Wall Street after China launched new stimulus measures to boost its sluggish economy.
China's central bank lowered the reserve requirement ratio (RRR) for all banks by one percentage point over the weekend in a bid to stimulate lending into its sluggish economy.
Chinese newspaper People's Daily said the cut is expected to release 1.2 trillion yuan (£130 billion) into the country's economy.
The global rally over the China's lower RRR overshadowed concerns over regulatory curbs on speculative trading introduced on Friday by the China Securities Regulatory Commission.
Margin trading businesses of brokerages have been banned from taking part in umbrella trusts, which allow investors to take on more leverage.
Hong Kong's Hang Seng jumped 2.7 per cent to 27850.49 and the Shanghai Composite Index in mainland China added 1.8 per cent to 4294.31. Japan's Nikkei 225 gained 1.40 per cent to 19909.09 while South Korea's Kospi remained flat at 2144.79. Australia's S&P/ASX 200 climbed 0.6 per cent to 5872.34.
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