Mainland stocks post slight gain on rate cut news

A-shares rose early in the day Thursday following the announcement of China’s largest interest rate cut in 11 years, but dampened later in the day, AP reported. The benchmark Shanghai Composite Index finished up 1.1% at 1,917.86 points after rising 6.6% earlier in the day, while the Shenzhen index rose 1.7% to 544.1 points. Gainers included property developers and steel makers, though the biggest rise was seen in cement makers Tangshan Jidong Cement and Anhui Conch Cement, which rose the daily limit of 10%, and Fujian Cement, which finished up 5.5%.