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China: Shares up 0.67% in morning trade

[SHANGHAI] Chinese shares rose 0.67 per cent in morning trade on Monday after the government cut interest rates over the weekend to boost the flagging economy, dealers said.

The benchmark Shanghai Composite Index added 22.05 points to 3,332.35.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 0.65 per cent, or 10.62 points, to 1,640.67.

China's central bank announced Saturday that it will cut the benchmark deposit and loan interest rates by 25 basis points, effective from Sunday.

AFP