Asian shares appear set to kick off the week higher, tracking a positive finish on Wall Street after a surprise interest rate cut in China last Friday.
Australia’s S&P ASX 200 index jumped 0.5 percent at Monday’s open. Miners saw a positive start, despite iron ore prices sinking to their lowest levels since 2009. Fortescue Metals and BC Iron advanced nearly 10 percent each.
Meanwhile, the Australian dollar also got a lift from China’s rate cut. The currency rose 0.1 percent to trade at 86.76 cents per U.S. dollar. Japan’s stock market is closed for the Labor Thanksgiving Day.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.