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Asian Stocks Rally As China Unveils Stimulus Plan

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Bloomberg   |   November 9, 2008 08:43 PM

Read More: Asian Stocks China Stumulus Package, Asian Stocks Climb, Asian Stocks Rally China Stimulus Package, Asian Stocks Rise, Financial Crisis, Business News

Asian stocks rallied for the first time in three days after China announced a $586 billion economic stimulus package and Taiwan cut interest rates.

Rio Tinto Ltd., which gets about a fifth of its sales in China, added 7 percent after the country unveiled measures including infrastructure spending, tax deductions and farming subsidies. Macquarie Group Ltd., Australia's biggest investment bank, jumped 4.2 percent after Group of 20 leaders called for interest-rate cuts and higher spending to bolster global growth. Toyota Motor Corp. added 1.7 percent after Japanese machinery orders rose more than forecast in September from a month earlier.

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Asian stocks rallied for the first time in three days after China announced a $586 billion economic stimulus package and Taiwan cut interest rates. Rio Tinto Ltd., which gets about a fifth of its sal...
Asian stocks rallied for the first time in three days after China announced a $586 billion economic stimulus package and Taiwan cut interest rates. Rio Tinto Ltd., which gets about a fifth of its sal...
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