Fed's rate cut spurs rebound

SHANGHAI: The stock market rebounded 2.53 percent yesterday after five straight days of decline, buoyed by an aggressive US interest rate cut that also lifted other markets.

The rally came after the People's Bank of China again raised the bank reserve requirement ratio.

The benchmark Shanghai Composite Index rose 92.71 points to close at 3761.61, with 789 of 911 stocks closing higher. The Shenzhen Component Index surged 4.45 percent to close at 13044.2.