The Chinese central bank today cut their one-year interest rates (0.25 % for loans and 1.75 % for deposits) which today brought some comforting news to the world markets, with most stock markets in Asia on the rise in the day and all major European markets on the upswing presently. The US market is expected to rise as well when it opens soon (Singapore time 10.00 pm. I understand that the Dow futures is already up by 800 pts and Standard & Poors futures are up 73 pts ). If Dow Jones Index rises significantly also, we may see further rises in SGX and most of the indices in the region tomorrow as well. Not sure though which way the China market will go because the last few exercises of interest rate cuts did not seem to stem the slide in investor confidence there.
