Related News
Stock index edges up on possible reserve requirement cut
By Hu Xiaocen |
December 20, 2011, Tuesday
|
Online Edition
Online Edition
THE Shanghai Composite Index rose today on speculation that the central bank will further cut the reserve requirement ratio, and Europe pledging US$195 billion to the IMF.
The key index rose by 0.16 percent to 2221.68 points in the morning, led by the cement sector, which jumped by 4 percent.
The People's Bank of China would lower the reserve requirement for banks in the near term, China Securities Journal reported today.
Yuan funds at financial instituions accumulated from foreign exchange purchases dropped 27.9 billion yuan (US$4.4 billion) in November compared to October, and stood at 25.46 trillion yuan, the central bank said yesterday.
"The funds raised from foreign exchange purchases are shrinking, and the liquidity via open-market operations has tightened," Chen Bin, senior investment consultant with Wanlian Securities, said in a report today.
"Stocks will further drop if the general expectation of lower reserve requirement ratios is not fulfilled," said Chen.
Eurozone finance ministers agreed to inject US$195 billion into the International Monetary Fund to widen financial support and assist bond markets, said Bloomberg.
The key index rose by 0.16 percent to 2221.68 points in the morning, led by the cement sector, which jumped by 4 percent.
The People's Bank of China would lower the reserve requirement for banks in the near term, China Securities Journal reported today.
Yuan funds at financial instituions accumulated from foreign exchange purchases dropped 27.9 billion yuan (US$4.4 billion) in November compared to October, and stood at 25.46 trillion yuan, the central bank said yesterday.
"The funds raised from foreign exchange purchases are shrinking, and the liquidity via open-market operations has tightened," Chen Bin, senior investment consultant with Wanlian Securities, said in a report today.
"Stocks will further drop if the general expectation of lower reserve requirement ratios is not fulfilled," said Chen.
Eurozone finance ministers agreed to inject US$195 billion into the International Monetary Fund to widen financial support and assist bond markets, said Bloomberg.
- 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.
