SYDNEY: Asian shares slid anew on Monday, getting little lift from a surprise rate cut by China's central bank, while Wall Street futures firmed in the wake of President Joe Biden's decision to bow out of the election race.
The People's Bank of China cut short-term rates by 10 basis points, which pulled down long-term borrowing costs and bond yields. The move follows Beijing's release of a policy document on Sunday outlining its ambitions for the economy.
