SHANGHAI, Feb 5 (Reuters) - China stocks jumped over 2 percent at open on Thursday after the central bank cut banks’ reserve requirement ratio (RRR) for the first time in over two years to combat an economic slowdown and looming deflation.
The CSI300 index rose 2.5 percent at open, while the Shanghai Composite Index gained 2.4 percent.
The financial sub-index leapt 4.4 percent and the property sub-index rose 3.4 percent.
Chinese stock markets have soared around 40 percent since November when the People’s Bank of China (PBOC) cut interest rates.
In Hong Kong, the Hang Seng index added 1.5 percent.
The Hong Kong China Enterprises Index gained 2.7 percent.
Reporting by Sue-Lin Wong; Editing by Kazunori Takada