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Name | Symbol | Market | Type |
---|---|---|---|
China Minsheng Banking Corp Ltd (PK) | USOTC:CMAKY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.30 | 3.20 | 3.47 | 12 | 21:00:56 |
By Laura He, MarketWatch Other major Asian markets end broadly higher
HONG KONG (MarketWatch) -- Hong Kong stocks ended sharply higher Monday, after the Chinese central bank announced a surprise rate cut Friday night.
The Hang Seng Index jumped 2%, while the Hang Seng China Enterprises Index or "H-share index" rallied 3.8%.
The People's Bank of China's reduction of the benchmark one-year deposit and lending rates -- by 25 basis points and 40 basis points, respectively -- sent shares of mainland Chinese banks and property developers both sharply higher.
Among major banks, China Minsheng Banking Corp., Ltd. climbed 3.9%, China Merchants Bank Co., Ltd. advanced 3.2%, and Industrial and Commercial Bank of China Ltd. rose 2.4%.
Property shares gained even more, with China Vanke Co., Ltd. soaring 13.3%, China Overseas Land & Investment Ltd. surging 11%, Country Garden Holdings Co. Ltd. spiking 10.5%, China Resources Land Ltd. leaping 10.4%, and Poly Property Group Co. Ltd. improving 8.8%.
Many other blue chips also headed higher, with telecoms giant China Mobile Ltd. up 2.2%, online major Tencent Holdings Ltd. rising 1.1%, and lender HSBC Holdings PLC underperforming the Hang Seng Index with a 0.6% gain.
On the Chinese mainland, the Shanghai Composite Index finished up 1.9%.
Other major Asian markets also posted solid gains. Australia's S&P/ASX 200 closed up 1.1%, while South Korea's Kospi Composite Index settled 0.7% higher. Japan markets were closed Monday for a public holiday.
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1 Year China Minsheng Banking (PK) Chart |
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