China to ease monetary policy for first time in 14 years

Australian miners responded after China indicated it will ease monetary policy for the first time in 14 years. Hong Hong's Hang Seng Index was up 2.8 per cent yesterday and a short time ago was ahead a further 1 per cent today. China's Politburo said, "A more proactive fiscal policy and an appropriately loose monetary policy should be implemented, enhancing and refining the policy toolkit, strengthening extraordinary counter-cyclical adjustments."