BEIJING, Feb. 5 (Xinhua) -- Chinese stocks ended in negative territory on Thursday, giving up gains in morning trading that's boosted by the central bank's decision to cut banks' reserve requirement ratio (RRR).
The benchmark Shanghai Composite Index fell 1.18 percent to end at 3,136.53 points. The Shenzhen Component Index shed 0.46 percent to end at 11,065.58 points.
The People's Bank of China announced on Wednesday to lower banks' reserve requirement ratio (RRR) by 50 basis points starting Thursday.
The PBOC also increased support to some targeted areas, cutting the RRR by an extra 50 basis points for qualified city and rural commercial banks engaged in proportionate lending to small firms, the farming sector and major water projects.
According to estimates by U.S. investment bank J.P. Morgan and some Chinese institutions, the RRR cut could inject 650 billion yuan (104 billion U.S. dollars) into the real economy.
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