China Shares Open Higher as PBOC Holds Rates for 14th Straight Month
MT Newswires Live
Jul 20
Chinese shares opened higher on Monday as the country's central bank held rates steady for the 14th consecutive month.
The Shanghai Composite Index, the main gauge of Chinese stocks, opened 0.7% higher to 3,791.66. The Shenzhen Component Index rose 1.2% to 13,869.06.
The People's Bank of China left the one-year loan prime rate, which serves as the benchmark for most corporate and household loans, at 3.00%. The five-year LPR, the reference rate for residential mortgages, was maintained at 3.50%.
This decision matched the consensus forecast tracked by Investing.com.
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