Previous Close | 0.0000 |
Open | 0.0000 |
Bid | 0.0000 x 0 |
Ask | 0.0000 x 0 |
Day's Range | 0.0000 - 0.0000 |
52 Week Range | 0.0000 - 0.0002 |
Volume | |
Avg. Volume | 0 |
Market Cap | 8,854 |
Beta (5Y Monthly) | 3.48 |
PE Ratio (TTM) | N/A |
EPS (TTM) | N/A |
Earnings Date | N/A |
Forward Dividend & Yield | N/A (N/A) |
Ex-Dividend Date | N/A |
1y Target Est | N/A |
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The deputy governor of China's central bank said on Thursday there is ample monetary policy room to deliver further cuts to banks' reserve requirement ratio (RRR), underlining market expectations for more easing measures to bolster the economy. The world's second-biggest economy started the year on a solid footing, offering some relief to policymakers as they try to shore up confidence and growth amid persistent weakness in the property sector. "China's monetary policy has ample room and rich policy tool reserves, and there is still room for cutting the RRR," Xuan Changneng, deputy governor of the People's Bank of China (PBOC), told a press conference in Beijing.
China is widely expected to leave benchmark lending rates unchanged on Wednesday, a Reuters survey showed, as the central bank kept a key policy rate steady last week at a time when the broad economy is starting to show some signs of improvement. The loan prime rate (LPR) normally charged to banks' best clients is calculated each month after 20 designated commercial banks submit proposed rates to the People's Bank of China (PBOC). Most new and outstanding loans in the world's second-largest economy are based on the one-year LPR, which stands at 3.45%.
China's computer-driven "quant" hedge funds are beefing up risk management and retooling their portfolios to conform to the state's definitions of fair play, as regulators clamp down on the $260 billion sector to revive retail investor confidence. Hedge fund Leon Capital said it will monitor liquidity risks more closely, JoinQuant has reduced its exposure to small-capital stocks, Lingjun Investment has committed to a "bullish stance" on Chinese equities and Siyuan Quant said it would invest in hi-tech companies to "service national strategy". The crackdown on funds using statistical models and computer algorithms to make trading decisions follows a February market crash dubbed China's "quant quake", reminiscent of a machine-driven 2007 Wall Street selloff that preceded the global financial crisis.