China Stocks Rise as PBoC Holds Rates
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China's stock market saw gains as the Shanghai Composite rose 0.5% to 4,071 and the Shenzhen Component increased by 0.6% to 14,975, following the People's Bank of China's decision to maintain a supportive monetary policy. The one-year Loan Prime Rate remains at 3.0% and the five-year LPR at 3.5%, both at record lows for eleven months. Financial stocks, including major banks, led the rise, alongside notable gains from companies like Zhongji Innolight and Luxshare Precision Industry. Authorities are cautious of external risks amid stabilizing growth and easing deflationary pressures.
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Source: Trading Economics The copyright of this article belongs to the original author/organization.
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