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Wall Street hits record high as PBoC stimulus boosts global stocks

Alice Woodhouse in Hong Kong, Mamta Badkar in New York and Myles McCormick in London

Global stocks rallied on the first trading day of the year with Wall Street closing at a record high after China’s central bank moved to improve economic growth by pumping $115bn into the country’s financial system. The S&P 500 closed 0.8 per cent higher to a record 3,257.85 led by gains in technology