China shares rise on c bank liquidity support

Published: June 09, 2017 14:09:54 | Updated: October 22, 2017 03:13:05


China stocks rose on Friday, a slowing in the pace of new listings and a central bank move to ease liquidity worries.

 

The People's Bank of China on Wednesday injected 180 billion yuan ($26.48 billion) into the interbank market via open market operations.

Stocks were also supported by expectations that index publisher MSCI will decide to include Chinese A shares in its benchmark index on June 20.

On Friday, The blue-chip CSI300 index rose 0.4 per cent, to 3,576.17 points, while the Shanghai Composite Index added 0.3 per cent to 3,158.40 points.

For the week, the CSI300 advanced 2.6 per cent - its best week since the one ending Nov. 25, 2016.

The SSEC gained 1.7 per cent this week, its best weekly advance since April.

The securities regulator last weekend approved fewer initial public offerings, easing worries over the pace of expansion for equity supply.

The central bank injected the money after providing capital support via one-year Medium-term Lending Facility (MLF) loans in the previous session, according to Reuters.

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