Asia-Pacific markets were largely range-bound on Wednesday, with Hong Kong’s Hang Seng index leading the rally by climbing 2.6% following stimulus measures from China. The PBOC slashed the medium-term lending facility rate to 2%, sparking gains in Chinese markets, with the offshore yuan briefly strengthening to 6.995 against the U.S. dollar. In the U.S., the S&P 500 and Dow Jones Industrial Average reached new record highs, with chipmaker Nvidia’s shares rising nearly 4% after CEO Jensen Huang completed stock sales.
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