Hong Kong stocks surge over 3% as PBOC announces a slew of policy easing measures in rare briefing

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The People’s Bank of China has announced that it will reduce the reserve requirement ratio by 50 basis points, among other measures.

The mainland Chinese CSI 300 was up 2.4% after the decision, also powered by consumer non-cyclicals.for banks by 50 basis points, although it did not provide a specific timeline. It also announced it would cut the seven-day reverse repurchase rate from 1.7% to 1.5%.Sign up for NBC Philadelphia's News Headlines newsletter.

Other measures also include reducing down payments for second homes, as well as 1 trillion yuan of long-term funds." as"a big bang to boost investor confidence in market."This 29-year-old millionaire says work-life balance is ‘just a myth' if you want to achieve extraordinary things

 

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