China stocks surge most in 3 weeks lifted by machinery shares

摘要

Dec 25: China's stocks rebounded from the biggest two-day loss in 18 months as construction and bank shares gained after the government pledged to support machinery exports and on speculation the government is taking steps to boost lending. Sany Heavy Industry and Zoomlion Heavy Industry Science and Technology both rallied 10%. The State Council pledged to guarantee financing for exports of large equipment and encourage lending by commercial banks for equipment manufacturing. China Construction Bank led gains for lenders, rising 6.8 %. China Business News reported that the central bank won't require banks to set aside reserves for deposits from non-bank financial institutions.