The X-trackers Harvest CSI 300 China A-Shares Fund (ASHR) surged 5.12% on Thursday, fueled by investor optimism after China's central bank announced measures to bolster the country's equity market.
According to the news report, the People's Bank of China officially launched a new "Securities, Fund, and Insurance Swap Facility" aimed at boosting the stock market. The central bank also urged key financial institutions to swiftly implement policies to support the economy and capital markets.
In addition, China's central bank governor flagged the potential for more interest rate cuts, a move that could further stimulate economic growth and increase liquidity in the financial markets. These policy actions come as Beijing unveiled its biggest stimulus since the pandemic late last month, in an effort to revive the country's slowing economy.
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