European stocks are likely to open higher on Wednesday after China stepped up support for the world's second largest economy.
The Chinese government unveiled new stimulus plans that include issuing additional sovereign debt and raising the budget deficit ratio, confirming with the country's economic development goals.
Elsewhere, the Nikkei newspaper reported that Japan's government is considering spending around $33 billion for pay-outs to low-income households and an income tax cut in a package of measures to cushion the blow to households from rising living costs.
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