ASX surges to nine-week high as China ‘hits stimulus button’

The ASX has surged to a nine-week high and the market’s optimism can be traced back to China which seems to have “hit the stimulus button”, says Tribeca Alpha Plus Fund Lead Portfolio Manager Jun Bei Liu. “In the last couple weeks we have seen consecutive announcements about lowering more consumer targeted stimulus, as well as the rate cuts,” she told Sky News Australia. “All that is a sign that perhaps bigger packages are to come – that’s really been pulling the resources sector for quite a few weeks.”