Ruble jumps on Russia rate hike, oil pressured

From reuters.com

Sliding oil prices and a downbeat China factory survey weighed on Asian shares on Tuesday, while the ruble jumped against the dollar after Russia sharply increased its benchmark interest rate in a bid to halt a collapse in its currency. Activity in China's factory sector shrank in December for the first time in seven months as new orders declined, adding to a spate of data showing more fatigue in the world's second-largest economy and heightening expectations that more stimulus will be needed to avert a sharper economic slowdown. "Concerns about the Russian economy and a slowdown in the Chinese economy are ... (full story)