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China Daily Website

Chinese stocks fall after RRR cut - May 14

Updated: 2012-05-14 15:35
( Xinhua)

BEIJING - Chinese shares closed down Monday after China's central bank announced a second cut in banks' reserve requirement ratio (RRR) this year.

The benchmark Shanghai Composite Index fell 0.6 percent to 2,380.73.

The Shenzhen Component Index lost 1.16 percent to 10,093.38.

The People's Bank of China said late Saturday that it will lower RRR for banks by 50 basis points starting May 18, in an effort to inject liquidity to buoy the economy.