Chinese stocks rose, led by financial and technology shares, after the central bank released details of measures to boost lending to smaller companies and authorities allowed new share sales to resume.
The Shanghai Composite Index advanced 1.1 percent to 2,052.53 at the close, its biggest increase since May 12. The reserve-ratio cut will add 50 billion yuan ($8 billion) to the financial system, Capital Economics Ltd. said. The central bank move helped offset concern that the restart of initial public offerings would divert funds from smaller companies.
Source : Bloomberg