After faltering early in the session Chinese stocks are ripping higher yet again this afternoon.
The Shanghai Composite is currently up 1.97%, adding to the 2.3% gain of Friday. On Sunday the People’s Bank of China cut benchmark one-year interest rates by 0.25%.
While the rally is akin to similar moves seen seen post PBoC rate cuts in the past, reflective of the high levels of volatility at present, the index is currently on track to record its fifth session in a row with a gain or loss of more than 1.5%.
Business Insider Emails & Alerts
Site highlights each day to your inbox.