The People's Bank of China unexpectedly trimmed a closely watched money market funding rate on Monday, the first such cut in more than four years and a signal to markets that policymakers are ready to act to prop up slowing growth.
SHANGHAI: China stocks rose the most in two weeks on Tuesday, as a cut in a key interbank funding rate on Monday bolstered hopes for more government stimulus to prop up slowing growth.
The blue-chip CSI300 index rose 1.0%, to 3,947.04, while the Shanghai Composite Index gained 0.9%, to 2,933.99.
The People's Bank of China unexpectedly trimmed a closely watched money market funding rate on Monday, the first such cut in more than four years and a signal to markets that policymakers are ready to act to prop up slowing growth.
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