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China's Stock Markets Open 2.2 Percent Higher
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MON, FEB 25, 2002
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Stimulated by interest rate cutting, China's stock markets opened sharply higher on the first trading day following a two-week suspension during the Lunar New Year festival.
The Shanghai Index opened at 1540.5 points and the Shenzhen Index opened at 438.09 points, both rose about 2.2 percent over the last trading day.
The People's Bank of China, the central bank, announced last week to cut deposit interest rates by an average of 0.25 percent, which was the eighth rate cut in succession since 1996.
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