(Bloomberg) — Asian stocks rose after China took steps to shore up its property market and US equities climbed to a fresh record on Friday thanks to resilient corporate earnings.
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The MSCI AC Asia Pacific Index advanced for a seventh session, with gauges in China, Hong Kong, Australia, Japan all marching higher. Chinese banks left their benchmark lending rates unchanged as economists forecast.
The world’s second-biggest economy is shaping trading Monday following Beijing’s attempt to bolster the nation’s property market that’s hampering its growth momentum, even as concerns linger that the measures may be too small. Metals including gold rose, with copper surging to a fresh record in anticipation of supply shortages.
“We believe the policy package is just the beginning of the central government’s efforts to turn the sector around,” Nomura Holdings…
