Less explicable gains on European stocks...

Even as China eased liquidity, the Asian stocks fell. 

Hong Kong, Shanghai, Tokyo and Mumbai all declined but the European centres at opening seemed good. The Chinese central bank's action surprisingly enthused Europeans more than the Chinese themselves. The reduction by a massive 1 % was interpreted by the Asians as a recognition of a faltering economy but the Europeans saw that as a great opportunity. Seemed a bit strange that traders  in the 2 continents read interpreted the news differently.

Was there an element of 'irrational exuberance'?
Or is it that the trend is not necessarily a friend?
Or is it buy and sell?

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