Chinese Shares Open Higher on Policy Support, PBOC Liquidity Actions
MT Newswires Live
Aug 14
Chinese shares rose at market open on Friday, buoyed by fresh monetary policy support and liquidity injections from the central bank that helped boost investor sentiment.
The Shanghai Composite Index, the main gauge of Chinese stocks, opened 0.1% higher to 3,930.02. The Shenzhen Component Index went up 0.3% to 14,335.41.
The People's Bank of China on Friday started conducting overnight reverse repo operations, with the daily amount capped at 600 billion yuan. This will continue on Aug. 17 until Aug. 19.
The central bank previously said that it will also introduce structural monetary policy tools and enhance the financing structure by promoting the low operation of social financing costs.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.