China’s central bank injected CNY 130 billion (USD 19.9 billion) into the financial system via seven-day reverse repos at an interest rate of 2.25 percent on January 5th 2016. It is the biggest cash injection since September aiming to calm markets.
The move comes after the Chinese stocks slumped nearly 7% on Monday after data showed the country’s manufacturing sector shrank for the tenth straight month and leading to a global selloff.
However, markets in China reacted mixed. The Shanghai Composite Index closed 0.26% lower on Tuesday after gaining as much as 0.95% and falling as much as 3.2%. The Shenzen Composite ended 1.86% lower and the CSI 300 edged up 0.28%.
1/5/2016 8:34:25 AM