China’s central bank conducted 2 billion yuan (about 281.57 million U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Monday.
The move aims to keep liquidity reasonable and ample in the banking system, the People’s Bank of China said in a statement.
A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.
Hong Kong Hang Seng Index rises above 19,000 points
The Hong Kong Hang Seng Index rose above 19,000 points to another record high so far this year in the morning session on Monday, reversing the 0.3-percent dip at the opening.
The Hang Seng Tech Index jumped over 1 percent to top 4,000 points.
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