Mainland China share market advanced for fifth consecutive session on Friday, 13 February 2015, as appetite for risk assets supported by central bank liquidity injection steps and speculation of further monetary easing. The Shanghai Composite Index climbed up 0.5%, or 15.71 points, to 3173.42 at the close. For the week, the benchmark index has gained 4.2%.
The market has been supported throughout the week by expectations of further monetary easing following last week's cut to the reserve requirement ratio and a large amount of reverse repos before the Chinese New Year.
Market liquidity worries eased after China's central bank has conducted 160 billion yuan (US$26 billion) worth of reverse repurchase agreements. The People's Bank of China yesterday conducted 80 billion yuan of 14-day reverse repos at an interest rate of 4.1%, and 21-day reverse repos worth 80 billion yuan at a rate of 4.4%.
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