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China stocks rise most in two weeks on fresh stimulus hopes


Tuesday, 19 November 2019 14:54 WIB

SahamChinaIndeks Shanghai CompositeCSI 300 Blue-Chip


c_740_198_16777215_00_images_assets_CHINA_0shanghai-stock-exchange-720x449.jpg

China stocks rose the most in two weeks on Tuesday, as a cut in a key interbank funding rate on Monday bolstered hopes for more government stimulus to prop up slowing growth.

The blue-chip CSI300 index rose 1.0%, to 3,947.04, while the Shanghai Composite Index gained 0.9%, to 2,933.99.

The People's Bank of China unexpectedly trimmed a closely watched money market funding rate on Monday, the first such cut in more than four years and a signal to markets that policymakers are ready to act to prop up slowing growth. The seven-day reverse repurchase rate was cut to 2.50% from 2.55%.

Source : Reuters


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