infrastructure: Investors were also cheered by signals from China that the government will boost infrastructure spending and speed up the reform of its tax system, adding to other steps to stimulate sputtering growth, according to The Guardian. The Shanghai Composite closed 2.3% higher. The Nikkei 225 index rose by 7.7%, its biggest one-day rise since the 2008 global financial crisis, as Abe, fresh from his recent re-election as LDP leader, said he planned to cut corporation tax by three percentage points and sounded optimistic on reaching a trans-Pacific trade deal. European and US markets also climbed on hopes that the authorities in China want to arrest a slowdown in growth that has triggered turmoil in global markets over the last month. US markets also lost early gains as figures showing a surge in job openings – to 5.7m in July from 5.3m in June – suggest strength in the economy ahead of the US Federal Reserve interest rate meeting next week. The FTSE 100 closed the day 83 points higher at 6229 after an initial surge was partially reversed by poor industrial production and trade figures.
(news.financializer.com). As
reported in the news.
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