China shares extend rebound from 6-mth lows as cash rates ease

HONG KONG Tue Jan 21, 2014 10:03pm EST

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HONG KONG Jan 22 (Reuters) - China shares extended a rebound from six-month lows on Wednesday, outshining most other Asian markets, as cash rates in the mainland eased further after the Chinese central bank offered funds earlier this week to ease a cash squeeze.

At 0255 GMT, the CSI300 of the largest Shanghai and Shenzhen A-share listings was up 2.2 percent at 2,235.1 points -- its highest intra-day level in two weeks.

It had ended on Monday at its lowest since July 9.

The Shanghai Composite Index rose 1.8 percent. The China Enterprises Index of the leading offshore listings in Hong Kong was up 0.9 percent, while the Hang Seng Index gained 0.3 percent.

China's money markets again fell on Wednesday after the People's Bank of China dumped more than 255 billion yuan ($42 billion) into the financial system on Monday and Tuesday, easing concerns that another credit crunch was underway less than a month after a late December squeeze.

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