Shares fall despite PBOC cutting bank ratio
Print Edition
SHANGHAI stocks fell yesterday despite a trim in commercial banks’ reserve requirement ratio.
The benchmark Shanghai Composite Index declined 1.18 percent to 3,136.53 points.
Nomura said the cut was in response to strong disinflationary pressure in the economy, and also because targeted piecemeal measures such as short-term central bank liquidity injections and easing of macro-economic policies proved insufficient.
The People’s Bank of China on Wednesday announced a 0.5-percentage-point cut in banks’ reserve requirement ratio.
Nomura expected the ratio cut to inject 570 billion yuan (US$91 billion) of liquidity into the banking system.
Manufacturing shares fell, with AVIC Heavy Machinery off 4.29 percent to 22.30 yuan, Guangzhou Shipyard International losing 3.97 percent to 39.42 yuan, and Sinomach Automobile falling 3.1 percent to close at 21.26 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
