China rate cut whipsaws stocks after biggest sell-off since 1996
China’s stocks swung between gains and losses as traders weighed the impact of lower interest rates after the steepest four-day equity plunge since 1996
China’s stocks swung between gains and losses as traders weighed the impact of lower interest rates after the steepest four-day equity plunge since 1996.
The Shanghai Composite Index was little changed at 2,962.36 at 2:15 p.m., after rising as much as 4.3 per cent and falling 3.9 per cent earlier. The cuts in borrowing costs and lenders’ reserve ratios were announced hours after the benchmark measure closed with a 7.6 per cent drop on Tuesday.
Chinese equities...
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