China stocks rise at open after cuts to interest rates, reserve requirements

By REUTERS
August 26, 2015 05:00
1 minute read.

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

SHANGHAI - China's major stock indexes opened up on Wednesday after aggressive monetary easings announced by the central bank on Tuesday evening following a massive market slide.

The CSI300 index rose 0.7 percent to 3,062.57 points at 1:26 GMT, while the Shanghai Composite Index gained 0.5 percent to 2,980.79 points.

The benchmark indexes had tumbled 19 percent in the previous three sessions.

China CSI300 stock index futures for September rose 0.4 percent, to 2,842, -220.57 points below the current value of the underlying index.

The People's Bank of China cut interest rates and lowered the amount of reserves banks must hold for the second time in two months on Tuesday, ratcheting up support for a stumbling economy and a plunging stock market

China's Financial Futures Exchanges announced Wednesday morning that they will raise transaction fees and margin requirements for index futures to curb speculation.

Benchmark mainland indexes gave up all the gains made from Beijing's unprecedented stock market rescue in July, in which hundreds of billions of dollars were directed into the market, and this week entered negative territory for the year-to-date.

The Hang Seng index in Hong Kong was up 0.1 percent, to 21,434.25 points.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Breaking news
October 17, 2018
U.S. reliance on sanctions 'out of control,' Iran foreign minister says

By REUTERS