Australian shares set to open higher on latest China stimulus hopes, RBA expected to hold cash rate steady

News Snapshot:

Pinned post – 7.29AM Australian shares are poised to rise with commodities advancing on plans by China to do more to bolster flagging growth. ASX futures are 11 points higher at 8455 points near 7.30am. China’s Politburo said it will embrace a “moderately loose” strategy for monetary policy next year. The Politburo also vowed “more proactive” fiscal policy at its monthly huddle, according to Xinhua, raising expectations for Beijing to widen the fiscal deficit from 3 per cent at the annual parliamentary session in March. The US listed shares of BHP and Rio Tinto each surged higher around 4.5 per...