Chinese shares close mixed at midday
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Chinese shares closed mixed at midday Friday, with bank shares falling after the central bank said it would continue to rely on reserve hikes to mop up excess liquidity.
The benchmark Shanghai Composite Index slid 0.19 percent to end at 2,743.83 at 11:30 a.m..
The Shenzhen Component Index rose 0.21 percent to 11,820.25 at midday.
Zhou Xiaochuan, the central bank governor, said in an exclusive interview with Xinhua Thursday that the central bank will continue to rely on the reserve requirement ratios (RRR), as well as insurance of central bank bills, to soak up liquidity even though the RRR is already at a high level.
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