China Shares Open Higher as Central Bank Holds Loan Prime Rates
MT Newswires Live10:00
China shares rose at market open on Thursday as the People's Bank of China maintained its loan prime rates.
The Shanghai Composite Index, the main gauge of Chinese stocks, opened 0.3% higher to 3,907.21. The Shenzhen Component Index climbed 1.0% to 14,032.97.
The PBOC kept its benchmark lending rates steady at its monthly fixing on Thursday, matching the consensus forecast tracked by Investing.com.
The one-year LPR, which serves as the benchmark for most corporate and household loans, was held at 3.0%. The five-year LPR, the reference rate for residential mortgages, was maintained at 3.5%.
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