Chinese stocks pared early gains on Wednesday, while the bond and currency markets barely budged, as traders said the central bank’s latest easing measures offered few surprises and doubts persisted over prospects for a U.S.-China trade deal.The blue-chip CSI 300 Index climbed 0.6 per cent while the Shanghai Composite Index added 0.8 per cent, both pulling back from an earlier advance. Hong Kong‘s benchmark Hang Seng Index closed flat after rallying more than 2 per cent at the open.
Reaction was muted in bond and currency markets, with investors saying monetary easing was already priced.
China’s central bank will lower the benchmark interest rate and inject liquidity into the banking system, among other easing measures, Governor Pan Gongsheng said on Wednesday, to stimulate economic growth and mitigate the impact of a trade war.
The announcements came just hours after U.S. and Chinese officials said U.S. Treasury Secretary Scott…
