Shares in Asia slumped Monday as China's markets stumbled in their first trading day after a one-week holiday even though Beijing's Central Bank increased liquidity to offset the impact of an escalating trade dispute with the United States. Shares in Asia slumped Monday as China's markets stumbled in their first trading day after a one-week holiday even though Beijing's Central Bank increased liquidity to offset the impact of an escalating trade dispute with the United States. The People's Bank of China (PBOC) on Sunday cut the level of cash that banks must hold as reserves, aimed at lowering financing costs as policymakers worry about fallout from the tariff row with the United States. The losses in China dragged down MSCI's broadest index of Asia-Pacific shares outside Japan, which was 0.9pc lower. The dollar index, which tracks the greenback against a basket of six major rivals, was up 0.09pc at 95.707.

Source: Irish Independent October 08, 2018 06:33 UTC