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China Index Futures Gain on PBOC Reserve Ratio Cut; ETFs Decline

  • Move seen providing short-term reassurance to investors
  • Commerzbank forecasts up to 150 basis points of further cuts
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China Cuts Reserve Ratio in Latest Economic Boost

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Chinese stock-index futures in Hong Kong climbed after the central bank cut the amount of cash the nation’s lenders must hold as reserves, boosting efforts to support the world’s second-largest economy.

The Hang Seng China Enterprises Index futures rose 1.2 percent as of 10:15 a.m. in New York. The yuan was little changed against the dollar in offshore trading after sliding as much as 0.2 percent. China’s one-year non-deliverable interest-rate swaps declined less than 1 basis point, to 2.21 percent, data compiled by Bloomberg show. Exchange-traded funds tracking A shares fell in the U.S. following losses in mainland markets during regular trading hours.