Caixin
Jan 20, 2022 05:16 PM
FINANCE

China Stocks Climb as Banks Cut Borrowing Costs

Soldiers stand in front of the People's Bank of China in Beijing on Dec. 13. Photo: Bloomberg
Soldiers stand in front of the People's Bank of China in Beijing on Dec. 13. Photo: Bloomberg

(Bloomberg) — Chinese stocks rose after lenders lowered borrowing costs following the central bank’s move to cut policy loan rates and commit to more easing. 

The Hang Seng China Enterprises Index rallied as much as 2.5% on Thursday, with property and technology shares among the biggest gainers. On the Chinese mainland, the CSI 300 Index jumped as much as 1%. Chinese sovereign bonds extended gains for a fourth day while the yuan was steady.

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