Chinese Stocks Break for Lunch Mixed as LPR Cut Fails to Entice Investors
Tang Shihua
DATE:  Nov 20 2019
/ SOURCE:  yicai

(Yicai Global) Nov. 20 -- China's big three mainland stock indexes closed mixed going into lunch today as the central bank's cut to the loan prime rate failed to encourage buyers after a strong rally earlier this week.

The Shanghai Composite Index was down 0.38 percent at 2,922.96 at the lunch break, while the Shenzhen Component Index ended 0.13 percent lower at 9,876.95. The ChiNext Price Index, which tracks Shenzhen-listed growth stocks, gained 0.31 percent to reach 1,734.43.

The People's Bank of China cut the benchmark LPR for one-year and five-year loans by 5 basis points today, a widely predicted move, in order to cut funding costs for the real economy.

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Keywords:   Stock Market,Shanghai Composite Index,Shenzhen Component Index,ChiNext Price Index