China Shares Open Higher as PBOC Injects 1 Trillion Yuan Into Banking System

Chinese shares opened higher on Monday amid plans of the country's central bank to inject 1 trillion yuan into the banking system. The Shanghai Composite Index, the main gauge of Chinese stocks, opened 0.4% higher to 4,059.19. The Shenzhen Component Index climbed 0.5% to 15,677.93. The People's Bank of China will conduct a 1 trillion-yuan outright reverse repo operation to maintain ample liquidity in the banking system. The operation has a three-month tenor, with a maturity date of Oct. 5.