Related News
Stocks up on news of huge fund injection
Print Edition
SHANGHAI stocks rose yesterday amid media reports that China’s central bank provided significant liquidity to major banks to counter economic headwind.
The Shanghai Composite Index gained 0.49 percent to 2,307.89 points.
Reports went viral that the People’s Bank of China on Tuesday offered a total of 500 billion yuan (US$82 billion) of liquidity to the country’s five biggest banks through a three-month standing lending facility. The SLF was first introduced in 2013 as a supplement to other monetary policy tools.
Morgan Stanley said the liquidity injection was equivalent to a 50-basis-point cut in reverse requirement ratio with a three-month duration.
“With immediate policy actions taken, we think a growth rebound in both sequential and year on year terms will be likely, if funding costs were successfully reduced and infrastructure investment revived in the near future,” the US investment bank said.
Lenders were mixed, with the Industrial and Commercial Bank of China adding 0.3 percent to 3.56 yuan and the Bank of China off 0.7 percent to 2.70 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
