Shanghai shares rose yesterday amid optimism from fresh central bank moves to lower borrowing costs.
The Shanghai Composite Index rose 0.37 per cent to 3,630.5 points, extending the week's gain to 1.4 per cent.
From yesterday, the People's Bank of China cut interest rates for loans made under the standing lending facility, a policy tool to inject cash into the banking system, in its latest effort to aid a slowing economy.
China Railway Construction Corp gained 1.69 per cent to 15.61 yuan (US$2.45) after the company said it has won a subway construction contract in Qingdao worth 6.97 billion yuan.
Source: http://www.shanghaidaily.com/business/finance/Shares-rise-as-costs-to-borrow-cut/shdaily.shtml
