SHANGHAI/HONG KONG/TOKYO -- Global stocks exposed to the Chinese economy have dropped across the board after a smaller-than-expected interest rate cut by China's central bank.
The People's Bank of China on Tuesday lowered two key lending rates -- the one-year loan prime and the five-year rate -- by 10 basis points each. But these cuts did not go far enough, said Toru Suehiro, chief economist at Daiwa Securities in Tokyo.
