Asian Markets Climb as China Eases Rates and US Hints at Further Cuts

Chinese central bank cuts reserve requirements, while US Federal Reserve signals more rate reductions to support economic growth.

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.