TOKYO, Sept 25 Reuters Chinese stocks made brisk gains on Wednesday, extending their stimulusfueled rally to a second day, even as equities in the rest of the region struggled and crude oil retreated from a multiweek high.

The dollar dipped to a fresh onemonth low versus the euro and a 2 12year trough to sterling after weak U.S. macroeconomic data overnight boosted the case for a second supersized interest rate cut at the Federal Reserve39;s next meeting. Gold renewed an alltime peak.

Mainland Chinese blue chips advanced 2.4 as of 0511 GMT, following a 4.3 jump in the prior session. Hong Kong39;s Hang Seng climbed 2, adding to Tuesday39;s 4.1 surge.

The strong start for Chinese stocks briefly invigorated other regional indexes, but those gains soon fizzled, with Australia39;s benchmark last flat and South Korea39;s Kospi declining 0.1.

MSCI39;s broadest index of AsiaPacific shares outside Japan was 0.9 higher.

Japan39;s Nikkei shook off early weakness to rise 0.4, buoyed mainly by a stabilisation in the yen exchange rate and Wall Street39;s rise to new record highs overnight.

SP 500 futures pointed 0.14 lower, however.

PanEuropean STOXX 50 futures sank 0.4.

The People39;s Bank of China followed its announcement of wideranging policy easing on Tuesday with a cut to mediumterm lending rates to banks on Wednesday. Beijing39;s broadbased stimulus the biggest since the pandemic also includes steps to boost China39;s stock market and support for the ailing property…