(ANSA) – BEIJING, AUGUST 22 – The Hong Kong Stock Exchange opens the session in negative territory: the Hang Seng index drops 1.01% in the early stages, slipping to 19,572.42 points. The Shanghai Composite lost 0.26% to 3,249.70 points, while the Shenzhen Composite dropped 0.29% to 2,201.48.
The Central Bank of China (PBOC) cut the one-year Loan prime rate (LPR) by 5 basis points, from 3.70% to 3.65%, among the preferential rates offered by commercial banks to the best customers and reference for those applied to other loans. The institute also cut the 5-year rate that is a benchmark for real estate mortgages to 4.30%, from 4.45%, in addition to the unexpected 15 basis point scissoring decided in May to support weak demand. of loans for the real estate crisis. With the economy in trouble, the PBOC is following a reverse path on rates compared to what is happening worldwide. (HANDLE).
Source: Ansa
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