China Stocks Rebound After PBOC Leaves LPR Unchanged
China equities rebound, with the Shanghai Composite up 0.7% to 3,923 and the Shenzhen Component up 1.5% to 14,096, after the PBOC kept the one-year LPR at 3.0% and the five-year LPR at 3.5%.
The Shanghai Composite rose 0.7% to 3,923 on Thursday, while the Shenzhen Component gained 1.5% to 14,096, rebounding from the previous session as the People's Bank of China left its benchmark lending rates unchanged at record lows.
The one-year loan prime rate (LPR) was maintained at 3.0%, while the five-year LPR remained at 3.5%, underscoring policymakers' cautious approach amid lingering domestic and external uncertainties.
The decision followed the central bank's pledge to maintain an accommodative monetary stance, while expectations of further stimulus measures were reinforced by weak July economic data and Premier Li Qiang's call to accelerate the shift toward new growth drivers.
Investors are now awaiting the National People's Congress Standing Committee meeting in Beijing on August 25—28 for further policy signals.
Notable gainers included Foxconn Industrial Internet (1.1%), Zijin Mining Group (3.8%), Zhongji Innolight (1.1%) and BYD (2.1%).