Equity markets in Asia closed on a positive note amid the euphoria generated by China's surprise announcement of a 50-basis point cut in the reserve requirement for banks. The resultant liquidity infusion into the economy is seen supporting a fragile recovery.
China's Shanghai Composite Index surged 3.0 percent to finish trading at 2,906.11. The day's trading ranged between 2,906.79 and 2,821.71. The Shenzhen Component Index also jumped 2 percent to close at 8,856.22.
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