China market extends gain for third day

Mainland China share market advanced for third consecutive session on Thursday, 22 January 2015, on easing liquidity pressure after the People Bank of China injected cash into the money markets. The benchmark Shanghai Composite Index rose 0.6% to close at 3343.34, 4.7% to close at 3323.61, on the top of yesterday's 4.7% advance and 1.8% advance prior to that. The market has recovered 7.2% over the last three sessions, after it suffered 7.7% plunge on Monday.

Market sentiment was supported by a move by the People's Bank of China to offer 50 billion yuan ($8 billion) worth of seven-day reverse repos - the first time that it has used this short-term lending facility to commercial banks in a year in its open-market operation Thursday.

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