July 26, 2024 at 03:42 am EDT
(MT Newswires) -- Chinese shares rebounded, snapping four days of losses, as there are expectations of more policy easing measures after the central bank's surprise rate cuts.
The Shanghai Composite Index, the main gauge of Chinese stocks, rose marginally to cap the trading week at 2,890.90. The Shenzhen Component Index climbed 1.5%, or 122.47 points, to 8,597.17.
Sentiment was upbeat that the government may introduce policy easing measures after the People's Bank of China cut the one-year medium-term lending facility to 2.3% from 2.5% yesterday.
Analysts from Goldman Sachs said that the rate cuts hint at the government's effort to reach the year's 5% gross domestic product target. The bank said it expects the measures will help boost domestic demand, according to a report in the South China Morning Post.
In corporate news, Runa Smart Equipment (SHE:301129) jumped almost 6% at the close after signing a 206 million yuan deal to install a smart heating system in Xuecheng District, Zaozhuang City, China.

Sumber : MT Newswires