The Mainland China equity market closed higher on Wednesday, 18 April 2018, with banks and financials shares leading rally, thanks to surprise 100 basis points (bps) cut in reserve requirement rate. Mainland equities also rebounded on speculation that China will delay the implementation of new rules governing its US$16 trillion asset-management products after the trade tensions with the US sent jitters through the financial markets.
The Shanghai Composite Index rose 0.8%, or 24.60 points, to 3,091.40, snapping a decline of 4.4% over the past four days. The CSI 300 Index of big-caps added 0.5% to 3,766.28.
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