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The fear is that the China-US trade row could upend global supply chains, and chill international trade and investment - a risk underscored by Widodo.
China's exports to the US rose to $46.7 billion while imports slumped to $12.6 billion, according to the customs administration.
The cut will enable banks in China to release 1.2 trillion-yuan cash for additional lending.
China has been locked in an intensifying trade conflict with the US, which unleashed a new wave of tariffs on $200 billion in Chinese goods on Monday.
The trade war initially created instability but eventually may open up greater markets.
In research published Wednesday, the economists said that stock and bond markets could be hurt by a general loss of confidence in the economy.
On Monday, Beijing blamed ‘bully’ Trump for taking trade disputes to a point of no return by making ‘false accusations’.
Markets will also take global cues from the US Federal Open Market Committee’s (FOMC) decision on interest rates, while developments in the US-China trade war will be closely monitored.
Besides, the dollar's weakness against some currencies overseas on easing trade war concerns and a higher opening of the domestic equity market supported the rupee, forex dealers said.
The global lender is still assessing the impact of the duties imposed so far but the economic costs 'will quickly add up,' IMF spokesman Gerry Rice told reporters.