Better liquidity in China drives gains- let it roll.
Monsters of Rock: Big miners MIN, BHP, FMG enjoy gains on China credit newsMajor miners were well in the green on Monday, despite the iron ore price retreating at the end last week on steel output and supply concerns.
China, which despite trade tensions still consumes the vast bulk of Aussie miners’ mining exports, brought in policy support to boost the country’s economic recovery by cutting the reserve requirement ratio held by its banks.
This should improve liquidity to supply credit to Chinese businesses.
Following on from that news materials was the top sector in the ASX200, gaining 2.19% to beat a general rise of 0.83% across the benchmark ASX200.
The top movers in the large cap space were the major mining houses, with Mineral Resources (ASX: MIN) up 4.21% or $2.41 to $59.61, BHP (ASX: BHP) climbing $1.57 or 3.17% to $51.05 and Fortescue (ASX: FMG) up 3.31%.
https://unauthorised investment advice/resources/monsters-of-rock-big-miners-min-bhp-fmg-enjoy-gains-on-china-credit-news/
Better liquidity in China drives gains- let it roll.Monsters of...
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