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Chinese stocks shoot up over 2% after PBOC's surprise stimulus move

Chinese stocks shot up more than 2 percent on Thursday after PBOC's cut banks' reserve requirement ratios by 50 basis points, a widely expected stimulus move that has helped fuel a stock market rally of nearly 40 percent in the last few months.

Selling Grindlays in India was a big mistake: ANZ chief

Describing India as a country with vast economic potential, Australia and New Zealand Banking CEO Mike Smith has called the sale of its unit Grindlays in India in 2000 as a 'big mistake'