Morning Markets: Chinese stimulus prompts short-term US rally

Asian stocks fell on Tuesday as investors redeemed profits after Monday's rally, caused by China unve...

Asian stocks fell on Tuesday as investors redeemed profits after Monday's rally, caused by China unveiling its $586bn fiscal stimulus package. The nation has pledging to invest in infrastructure and social welfare projects over the next two years. The FTSE Asia Pacific index was trading 0.8% lower at 167.71 while the Nikkei saw early losses of around 3% or 272.13 points, to 8809. On Wall Street, the Dow Jones closed on Monday at 8,870.54, having witnessed a daily low of 8762.38. An initial rally prompted by the promise of China's fiscal stimulus package later saw the Dow fall back dow...