Seeking Alpha

More Chinese banks eligible for reserve ratio cut

  • China's bank sector (CHIX) was boosted overnight after a number of midsize banks won inclusion into a PBOC move to cut reserve ratios - now a larger program than analysts expected when the central bank unveiled it last week.
  • For the PBOC's part, it says the action isn't an expansion of the reserve ratio cut, but that any company is eligible for eased ratios as long as a significant portion of boosted lending goes to agricultural and smaller companies.
  • Shanghai closed higher by 0.75%.
  • ETFs: FXI, PGJ, GXC, FXP, YINN, ASHR, YANG, MCHI, PEK, XPP, YAO, YXI, CHXF, CN, FCA, CHNA, KBA
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