Shares rise as costs to borrow cut
Source: Shanghai Daily |
November 21, 2015, Saturday
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Print Edition
Print Edition
SHANGHAI shares rose yesterday amid optimism from fresh central bank moves to lower borrowing costs.
The Shanghai Composite Index rose 0.37 percent to 3,630.5 points, extending the week’s gain to 1.4 percent.
From yesterday, the People’s Bank of China cut interest rates for loans made under the standing lending facility, a policy tool to inject cash into the banking system, in its latest effort to aid a slowing economy.
China Railway Construction Corp gained 1.69 percent to 15.61 yuan (US$2.45) after the company said it has won a subway construction contract in Qingdao worth 6.97 billion yuan.
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