FINWIRES · TerminalLIVE
FINWIRES

China Shares Open Higher as PBOC Holds Rates for 14th Straight Month

By

Chinese shares opened higher on Monday as the country's central bank held rates steady for the 14th consecutive month.

The Shanghai Composite Index, the main gauge of Chinese stocks, opened 0.7% higher to 3,791.66. The Shenzhen Component Index rose 1.2% to 13,869.06.

The People's Bank of China left the one-year loan prime rate, which serves as the benchmark for most corporate and household loans, at 3.00%. The five-year LPR, the reference rate for residential mortgages, was maintained at 3.50%.

This decision matched the consensus forecast tracked by Investing.com.

Related Articles

Asia

Planetree International Forecasts 555% Boost in H1 Profit

Planetree International Development (HKG:0613) expects an attributable profit of HK$600 million for the six months ended June 30, up 555% from HK$108 million a year prior.The financial services company attributed the forecast to a net fair value gain on financial assets, a higher revenue, and an improved contribution from the share of results of associates.

HKG:0613
Asia

Market Chatter: Moonshot AI's New Kimi K3 Model Launch Weighs on US AI, Chip Stocks

Chinese AI startup Moonshot AI launched its Kimi K3 model recently, causing AI and semiconductor stocks to decline in the U.S. on Friday, Bloomberg reported the same day.Moonshot reportedly claims the model is at par with OpenAI and Anthropic PBC's most powerful offerings.The announcement of the launch coincided with President Xi Jinping's attendance of China's top AI summit, underscoring the country's focus on leading the AI sector, Bloomberg said.Kimi K3, a 2.8T-parameter model with a 1-million-token context window, is the world's first open 3T-class model designed for frontier intelligence across long-horizon coding, knowledge work, and reasoning, according to the company.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSE
Asia

China Everbright Environment CEO Steps Down

China Everbright Environment (HKG:0257) Chief Executive Officer Luan Zusheng resigned due to age-related reasons, effective Friday, according to a same-day Hong Kong bourse filing.Chairman Wang Silian has assumed the role of Acting CEO, the environmental services provider said.

HKG:0257