Mainland indices surge China's Shanghai
Composite index soared as high as 7.8 percent briefly before trimming gains to
5.3 percent. The CSI 300 index opened up 6.1 percent, while the smaller
Shenzhen Composite leaped 4.7 percent. After the stock market close on
Friday, the China Securities Regulatory Commission (CSRC) said China would cut
initial public offerings (IPOs) and capital raisings and support long-term
investors entering the market to help stabilize prices. The People's Bank of
China (PBOC) also rolled over 250 billion yuan of medium-term loans to banks
late on Friday to ensure adequate liquidity in the system.
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