People who flout new order in Xiaogan city in central Hubei face detention for 10 days as global death toll reaches 1,775. Follow live news and latest updates
Shares in China have posted strong gains after the country’s central bank cut the interest rate on its medium-term lending to try to cushion businesses from the impact of the Covid-19 outbreak. The bank also injected another 200bn yuan of liquidity into the system.
The move is expected to pave the way for a reduction in the country’s benchmark loan prime rate on Thursday, Reuters reports, to lower borrowing costs and ease financial strains on companies hit by the epidemic.
China CSI 300 erases Covid-19 slump.
Why?
* Short selling ban (in China this means the Gulag!)
* Funds need gov't approval to sell (prove an outflow)
* Record repo injections by the PBoC, rate cuts
* Xi - will cut taxes and record fiscal stimulus
Rally means all is good, right? pic.twitter.com/hCRUaEiHdZ
#PBOC injects 200 bn yuan liquidity via 1-year medium-term lending facility (MLF).
PBOC cut the rate on MLF to 3.15%, from 3.25% in the previous operation. https://t.co/EXAEiLHayq
A reporter is asking about Australians onboard the MS Westerdam cruise ship that docked in Cambodia last Thursday. An American passenger on that ship was subsequently diagnosed with Covid-19, after testing in Malaysia. The foreign affairs minister, Marise Payne answers:
There were some Australians on the vessel Westerdam. 39 of those have remained in Phnom Penh after the ship finally docked. They have been provided with hotel accommodation in the capital.
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