Copper Gains Due To Optimism On Policy Support In China…
Copper prices closed 0.34% higher at 731.95, buoyed by optimism stemming from policy support in China, the world’s leading consumer of the metal. The Chinese central bank’s significant cut to bank reserves, injecting approximately $140 billion into the banking system, signalled strong support for the country’s fragile economy. Additionally, reports of a 2 trillion yuan stabilisation fund aimed at purchasing shares onshore through the Hong Kong exchange link contributed to positive market sentiment.
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