Global Stock Index Hits Record High Amid China's Economic Stimulus

A global stock index reached a record high and copper prices surged after China introduced stimulus measures. The S&P 500 saw minimal changes, whereas Chinese and Hong Kong stock indices rose. Investors are focused on the Federal Reserve's rate decisions. Commodities and key currencies fluctuated amid economic developments.

A global stock index surged to a record high and copper prices reached a 10-week peak on Tuesday after China announced economic stimulus measures. Additionally, China's yuan climbed to a 16-month high against the U.S. dollar following the People's Bank of China Governor Pan Gongsheng's plans to lower borrowing costs and introduce structural monetary policy tools.

The S&P 500 saw mixed results, dropping slightly after a dip in U.S. consumer confidence data, but gained ground later. Investors are eagerly awaiting indications of the Federal Reserve's next action after last week's interest rate reduction.

Stock indices in China and Hong Kong showed significant gains, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite also experiencing increases. U.S. crude oil prices rose, and other major commodities, including copper and gold, saw price hikes. Notably, the U.S. dollar weakened against other major currencies.

(With inputs from agencies.)