Chinese stocks extended a rally into a third session on Tuesday, as investors cheered Beijing’s latest policy easing to boost the economy after a private survey showed sluggish growth in the domestic services sector.

The blue-chip CSI300 index ended up 0.6% at 4,002.81, while the Shanghai Composite Index added 0.5% at 2,991.56.

China’s central bank cut the interest rate on its medium-term lending facility (MLF) on Tuesday for the first time since early 2016, as policymakers work to prop up a slowing economy hit by weaker demand at home and abroad.

Source : Reuters