China's Mainland Stocks Bounce Back at Open as CSF Cuts Interest Rate
Dou Shicong
DATE:  Aug 08 2019
/ SOURCE:  yicai

(Yicai Global) Aug. 8 -- China's mainland stock markets opened higher this morning, in a rebound following continuous declines in the first three days of this week.

The Shanghai Composite Index opened 0.56 percent higher at 2,784.18. The Shenzhen Component Index started off at 8,870.18, up 0.63 percent, and the ChiNext Price Index, which tracks growth enterprises in Shenzhen, rose 0.8 percent to 1,512.27.  

China Securities Finance, the only approved institution that provides margin financing loan services in the country, cut its interest rate by 80 basis points from today to decant more liquidity into the stock markets.

Editor: Ben Armour

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Keywords:   Shanghai Composite Index,Shenzhen Component Index,ChiNext Price Index,China Securities Finance Corp