The people’s Bank of China on Friday cut the interest rate by 0.25 percentage points. At the end of trading the index of Shanghai stock exchange Shanghai Composite has grown by 0.50% to 3429,58 item.
MOSCOW, 26 Jan. Stock markets in the Asia-Pacific region (APR) finished trading Monday mainly the decision of the Chinese Central Bank to reduce interest rates, according to AFP.
At the end of trading the index of Shanghai stock exchange Shanghai Composite has grown by 0.50% to 3429,58 item. Index of Shenzhen stock exchange Shenzhen Composite index gained 0,68%, having 2030,48 item.
The Australian S&P/ASX 200 fell to the level of 5348 points, showing a decline of 0.07% at the end of trading. The Korean KOSPI closed at 2048,08 points, gaining 0.38 per cent. The Japanese index Nikkei 225 has grown on 0,65% — to 18947,12 item. Hong Kong’s Hang Seng Index fell 0.15% to 23116,25 item.
The people’s Bank of China on Friday cut the interest rate by 0.25 percentage points to 4.35%. Deposit rate thus reduced by 0.25 percentage points to 1.5%. The changes came into force from Saturday, October 24. From the same date in reserve requirements for Chinese banks reduced by 0.5 percentage point in order to maintain an acceptable level of liquidity in the banking system.
According to a senior strategist at Sumitomo Mitsui Asset Management Ichikawa Masahiro (Masahiro Ichikawa), the decision of the Chinese regulator increased the likelihood that the Bank of Japan at its upcoming meeting, also will announce new measures to support the Japanese economy, writes Reuters.