PBOC surprise powers equities

Analysts skeptical on whether move will result in a stronger market over long term

Share prices rallied to a three-year high in the Chinese mainland on Monday after the central bank cut interest rate, but doubts still remain on whether it would be enough to bolster market liquidity and sustain the bullish trend, analysts said.

The property and non-banking financial sectors led the surge as the benchmark Shanghai Composite Index rose by 1.85 percent to close at 2532.88 points.