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China stocks rise after President Xi Jinping’s verbal support for market

Chinese President Xi Jinping in Nov. 2015

Chinese shares rose Tuesday as investors gained confidence from President Xi Jinping’s recently stated support of the “healthy development” of the country’s stock markets.

Elsewhere in Asia, stock markets were mixed: Korea’s Kospi SEU, +0.42% was up 0.3% and Hong Kong’s Hang Seng Index HSI, -1.42% slipped 1.1%.

In Australia, shares were rising before the Reserve Bank of Australia cut the cash interest rate to 1.75%, a new record low, from 2%. Pressure had been mounting in recent months for the central bank to slash rates to keep economic growth from slowing.

Japan’s stock market was closed Tuesday in observance of a three-day public holiday. It will reopen Friday. The Nikkei Stock Average NIK, -3.11% had tumbled 3.1% Monday on the continued disappointment that the Bank of Japan left interest rates and its easing...


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