Caution reigned across the region’s stock markets yesterday as investors awaited the latest interest rate decision from the Federal Reserve and quarterly earnings from Goldman Sachs, the US investment bank.
Rate cuts were also on investors’ radar screens in China after the governor of the central bank said the country would face pressure to lower borrowing costs until the middle of next year.
This was underlined by a report from the Xinhua news agency that profits at state-owned companies had dropped 26 per cent in the first 11 months of the year.
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