Central Bank Movement in Stock Reversal to Improve Short Term Liquidity
An early decline and increase was seen for the fourth straight day since Thursday as stocks reversed after the central bank moved to improve short term liquidity. Although a thin trading volume has indicated investor caution due to a slow economy. The CSI300 index is one of the biggest listed companies in Shanghai and Shenzhen which increase by 0.3 percent or up 3,442.87. Meanwhile the Shanghai Composite Index has gained 0.5 percent or 3,173.42 points.
China United Network Communication is one of the most active stocks in Shanghai which is up 7.9 percent to 4.90 yuan, Bank of China when down 0.3 percent or 4.06 yuan and China Petroleum went up 2.3 percent or 5.83 percent.
Meanwhile in Shenzhen, the most actively traded were BOE technology went up 1.0 percent or 3.04 yuan, TCL Corp. is up 6.9 percent or 4.50 yuan and Suning Appliance up 0.8 percent or 11.30 yuan. The total amount of A shares traded in Shanghai was at 19.3 billion shares and Shenzhen volume was at 13.4 billion shares.