China stocks rise after interbank lending rate cut
China stocks ended Monday firmer, as investors hoped for more stimulus measures to shore up the slowing economy after a interbank lending rate cut.
The blue-chip CSI300 index rose 0.8%, to 3,907.93, while the Shanghai Composite Index added 0.6% to 2,909.20.
China's central bank unexpectedly trimmed a closely watched lending rate on Monday, the first such cut in more than four years and a signal to markets that policymakers are ready to act to prop up slowing growth.
Analysts say the cut also shows the central bank is keen to ease investor worries that higher retail inflation would prevent it from delivering fresh stimulus.
Source : Reuters
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