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Chinese shares open higher Monday on RRR cut

(Xinhua)

13:33, May 14, 2012

Chinese stocks opened higher Monday after the central bank announced to cut banks' reserve requirement ratio for second time this year.

The benchmark Shanghai Composite Index rose 0.55 percent to open at 2,408.26. The Shenzhen Component Index opened at 10,278.95, up 0.66 percent.

China's central bank announced Saturday that it will lower banks' reserve requirement ratio by 0.5 percentage points starting from May 18.

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