Markets
China shares open up 0.1pc after interest rate rise
SHANGHAI : China 's main stock index opened up 0.1 percent on Thursday after the People's Bank of China announced an in
By
SHANGHAI: China's main stock index opened up 0.1 percent on Thursday after the People's Bank of China announced an interest rate increase late on Wednesday.
The benchmark Shanghai Composite Index opened at 2,813.2 points after closing 0.2 percent lower on Wednesday.
China raised interest rates for the third time this year on Wednesday, making clear that taming inflation remains a top priority even as the growth pace of its vast economy gently eases.
Analysts suggested China was close to, or even at the end, of a cycle of rate rises and the latest move was a pre-emptive strike before another big jump in inflation in data next week heightens depositors' worries about low yields.
COPYRIGHT REUTERS, 2011
More Stories
Comments
Comments are closed for this article.