20:02 August 25, 2015
(AGI) – Rome, Aug. 25 – Facing the new collapse of the Shanghai Stock Exchange, which closed today with a decline of 7.63%, the central bank in Beijing and not ‘been watching. A closed markets, and ‘was announced a cut of 0.25% in interest rates and a drop of half a percentage point of the roof of reserve requirements imposed on banks, now at 18% for the major institutions. And also ‘was re-injection of liquidity’ of 150 billion yuan (23.4 billion dollars) in the ‘money market’, after that, by the same amount, implemented last week in favor of the banking system.
> To understand whether the measures are sufficient to extinguish the fire that has frightened financial investors worldwide bisognera ‘wait until tonight, when the streets will reopen Chinese. So far the reaction of the lists appears positive with Wall Street which aims at achieving the best rally of the year. European shares closed marking a strong comeback. Frankfurt has come up with a + 4.97%, Milan and ‘pink jersey with + 5.86%, + 4.41% Paris, London and Madrid + 3.09% + 4.09%. Athens closed up 9.3%. The day was still started with the rebound of most of the indices of the Pacific. Only Tokyo, due to the strengthening of the yen, Shanghai had followed in the dust, closing down 4%. The good performance of Hong Kong (+ 0.72%), Seoul (+ 0.92%), Taipei (+ 3.6%) and Sydney (+ 2.72%) but have ‘allowed the squares of the old continent start sitting on the right foot, a complication of positive data came from Germany on GDP and business confidence. Echoed in the price of oil, riavvicinatosi with 40 dollars, while the euro after a surge yesterday, closing at $ 1.15 share. As always, for markets not only count the concrete measures but also ads and prospects. From this point of view, in a statement issued by the Chinese central bank, it should be underlined the passage where it is recognized as the ‘volatility’ of the financial markets “require” greater flexibility ‘of monetary policy instruments “and that, therefore, the conditions are ripe for a “reform rate.” Essentially, Beijing would finally responding positively to the call to make the yuan more regulated market, an appeal that comes from years in Washington, the White House as the IMF. For the rest of the central bank admits the presence of “downside risks to the economy” and promises to “keep the money supply and credit growth to levels suited to promote stable economic growth and healthy.” On the domestic front it is finally reported the launch of a police operation against “illegal banking system” which, according to the ‘South China Morning Post’, has already ‘led to 160 arrests. (AGI).
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