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China: Stocks surge as central bank boosts liquidity
[HONG KONG] Chinese stocks rallied on Tuesday after the country's central bank pumped billions of dollars into the financial system to boost liquidity ahead of the week-long Lunar New Year holiday.
The benchmark Shanghai Composite Index jumped 2.26 per cent, or 60.72 points, to 2,749.57 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, surged 3.42 per cent, or 57.18 points, to 1,729.09 on turnover of 244.3 billion yuan.
But the Hang Seng Index in Hong Kong fell 0.76 per cent, or 148.66 points, to close at 19,446.84.