Overview

• Asian shares surged, with Hong Kong's Hang Seng index jumping 2% following China's announcement of measures to support the economy.
• The People's Bank of China reduced the reserve requirement for banks by 0.5 percentage points to stimulate lending in the property sector.
• US Federal Reserve officials indicated a cautious but steady approach to further rate cuts, emphasizing the need to support the labor market.
• US and European stock markets also showed gains, with the S&P 500 and Dow Jones Industrial Average reaching new closing highs.
• Investors are closely monitoring upcoming US economic reports on growth and consumer spending for further insights into the economy's direction.