SHANGHAI: China stocks opened higher on Monday, after Beijing cut the benchmark lending rates as expected, while Hong Kong stocks edged down.
The blue-chip CSI300 Index edged up 0.6 per cent at the market open, while the Shanghai Composite Index gained 0.4 per cent. Hong Kong benchmark Hang Seng was down nearly 0.4 per cent.
China cut its one- and five-year loan prime rates (LPRs) by 25 basis points each, as anticipated at the monthly fixing on Monday.
China stocks were down roughly 11 per cent from their Oct. 8 peak after a turbulent few weeks, as investor caution erased some of the late September's massive gains made after Beijing's stimulus measures.
(Reporting by Shanghai Newsroom; Editing by Sam Holmes)