People look at the exchange rate at a moneychanger displaying a poster of USA dollar bill, Chinese yuan and Malaysian ringgit in Singapore August 24, 2015.
“China shares were up for the third day on the trot, a running streak unseen for a month thanks to optimism surrounding President Xi’s state visit to the USA”, said Mike Van Dulken, analysts at Accendo Markets.
MSCI Asia Pacific Excluding Japan Index fell 2.1 percent to 399.04 as of 10:38 a.m.in Hong Kong, as commodity producers led declines after raw-material prices tumbled. Oil dropped. Australian bonds gave back Monday’s gains.
ASIA’S DAY: The Shanghai Composite Index posted its first gain in six days, bouncing back from losses that triggered worldwide selling and wiped almost 23 percent off its value over the past week.
China’s central bank cut interest rates and lowered the amount of reserves banks must hold for the second time in two months on Tuesday, ratcheting up support for a stuttering economy and a plunging stock market that has sent shockwaves around the globe. The Nasdaq...