China stocks rebound as cenbank eyes more easing; Hong Kong shares rise [Reuters (UK)]
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Source: Reuters
China stocks rebound as cenbank eyes more easing; Hong Kong shares rise | Reuters 4 Min Read * SSEC 1.2 pct, CSI300 1.4 pct, HSI 0.7 pct * PBOC governor comments lift stocks after Friday slump * Developers fall as Beijing prepares draft property tax law SHANGHAI, March 11 (Reuters) - Shares in China rebounded on Monday morning after tumbling in the previous session, as the country’s central bank pledged to further support the slowing economy by spurring loans and lowering borrowing costs. ** At the midday break, the Shanghai Composite index was up 1.22 percent at 3,006.19, after plunging 4.4 percent on Friday. China’s blue-chip CSI300 index was up 1.39 percent, recovering from a 4 percent drop on Friday. ** Gains were driven by statements from People’s Bank of China (PBOC) Governor Yi Gang, who said on Sunday that the PBOC’s “prudent” monetary policy will emphasise counter-cyclical adjustments, using a phrase that implies the need to fight an economic slowdown. ** Yi said there is sti
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