BEIJING: China's central bank has cut interest rates and lowered the amount of reserves banks must hold for the second time in two months, ratcheting up support for a stuttering economy and a plunging stock market that has sent shockwaves around the globe.
The move came as Chinese stock indexes nosedived more than 7% yesterday to hit troughs not seen since December, and after shares had plunged over 8% on Monday.
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