swap facility – Charm

Hong Kong stocks rebound on PBOC’s US$70 billion finance facility, fiscal stimulus hopes

Hong Kong and Chinese stocks both rebounded from sell-offs after China’s central bank kicked off a US$70 billion financing facility to fund institutional buying and traders bet on more fiscal stimulus to shore up growth. The Hang Seng Index jumped 4.2 per cent to 21,508.37 at the noon break, set to snap a two-day, 11…

PBOC to set up US$71 billion swap facility to prop up stock market

Cs news7 months ago7 months ago02 mins

The People’s Bank of China (PBOC) plans to set up a swap facility that would give non-bank financial institutions access to at least 500 billion yuan (US$71 billion) in funding to buy shares, in a surprise move aimed at stabilising the stock market. However, some analysts called for more drastic action to shore up investor…