Mainland market responded positively to an injection of cash from the central bank and growing expectations of a further round of monetary easing. The People's Bank of China offered 35 billion yuan worth of seven-day reverse repurchase agreements, a short-term loan to commercial lenders, and 55 billion yuan of 28-day reverse repos on Tuesday. Market pundits were expecting a cut in the reserve requirement ratio for banks. There was also discussion of an interest rate cut.
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