China's interest rate cut sent Shanghai shares soaring

The Shanghai Composite Index jumped in trading Monday, following a surprise interest rate cut over the weekend.

One-year lending rates were cut 0.25 percentage points to 5.10%, along with a similar cut in deposit rates. China’s economy has slowed considerably in recent years, with the lowest growth in decades recorded, and the People’s Bank of China is trying to stimulate some activity.

But the slowdown isn’t knocking Chinese stocks much — here’s the Shanghai Composite Index, which rose 3.05% on Monday:

It was followed up by Hong Kong’s Hang Seng, where shares rose by 0.51%.

Here’s how it Shanghai stocks look over the long-term:

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