News Snapshot:
SHANGHAI (Reuters) – China’s shares closed lower on Thursday, pressured by financial and energy companies as investors assess Beijing’s unexpected indication of monetary easing. The CSI300 index, which brings together the largest companies listed in Shanghai and Shenzhen, fell 1.02%, while the Shanghai index was down 0.79%. Leading losses, the CSI300 financial and energy sub-index dropped 2% and 2.2%, respectively. China will use timely cuts in bank reserve requirements to support the real economy, especially small businesses, the cabinet said on Wednesday. There won’t necessarily be a reserve cut after Beijing has indicated one, and investors shouldn’t wait too long...
