Asia-Pacific Markets Surge on Rate Cuts, Positive US Close | JQJO

Asia-Pacific markets rose Tuesday following China's 10-basis-point cut to key lending rates, aiming to boost its economy. Australia also lowered its policy rate to 3.85%, its lowest since May 2023, reflecting receding inflation. The move comes as Australia's inflation hit a four-year low of 2.4%. Positive market sentiment extended to the US, with major indices closing higher, despite Moody's downgrade of the US credit rating. Contemporary Amperex Technology's strong Hong Kong debut also contributed to the positive market trend.