HONG KONG Jan 22 China shares had their best
day in two months on Wednesday as volumes surged, with the
battered property sector leading an extension of a rebound as
cash rates eased further in the mainland.
The CSI300 of the biggest Shanghai and Shenzhen
A-share listings ended up 2.6 percent at 2,243.8 points, while
the Shanghai Composite Index climbed 2.2 percent. The
gains were the biggest in a single day since Nov. 18, and helped
the indexes bounce further from multi-month lows recorded on
Gains came in the strongest Shanghai volumes since Dec. 16
that was also nearly 40 percent above its 20-day moving average.
The People's Bank of China pledged on its twitter-like Weibo
account late on Tuesday to ensure stability in the money markets
after it had earlier dumped 255 billion yuan ($42 billion) into
the interbank market, its first injection since Dec. 24 and the
largest amount in one day in 11 months.
(Reporting by Clement Tan; Editing by Jacqueline Wong)