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May 12, 2017

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Shares rebound

SHANGHAI shares rebounded from a seven-month low yesterday, as investor sentiment was lifted by speculation that China’s central bank would inject funds into the market today.

The Shanghai Composite Index gained 0.29 percent to end at 3,061.5 points, with blue-chip shares leading gains.

The People’s Bank of China will inject funds via the medium-term lending facility tools today, Wind Information Co said yesterday, citing sources from commercial banks.

Investors took that as a positive sign of an easing liquidity crunch.

The Shanghai Composite slumped to a seven-month low on Wednesday, sending the gauge down 7.2 percent from this year’s peak on April 11.


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