Chinese shares soar as PBOC injects additional cash
February 2, 2016 9:05 am
Chinese stocks surged following the People’s Bank of China infused further liquidity into the country’s financial system.
The central bank added 100 billion yuan ($15.2 billion) in short-term loans to money markets, despite continuous anxieties about China’s capital outflows and economy.
The Shanghai Composite Index ended at 2,749.57, up 2.3%. The Hong Kong’s Hang Seng Index lost 0.8%. Elsewhere, Japan’s Nikkei Stock Average slid 0.6% while South Korea’s Kospi tumbled 1%.
Previously, the country’s manufacturing activity hit its lowest for sixth consecutive month.
The material has been provided by InstaForex Company – www.instaforex.com
Chinese stocks surged following the People’s Bank of China infused further liquidity into the country’s financial system.
The central bank added 100 billion yuan ($15.2 billion) in short-term loans to money markets, despite continuous anxieties about China’s capital outflows and economy.
The Shanghai Composite Index ended at 2,749.57, up 2.3%. The Hong Kong’s Hang Seng Index lost 0.8%. Elsewhere, Japan’s Nikkei Stock Average slid 0.6% while South Korea’s Kospi tumbled 1%.
Previously, the country’s manufacturing activity hit its lowest for sixth consecutive month.
The material has been provided by InstaForex Company – www.instaforex.com
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