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Germany's benchmark DAX index rebounds after heavy losses

Xinhua, August 26, 2015 Adjust font size:

The benchmark DAX index at Frankfurt Stock Exchange on Tuesday rebounded and advanced by nearly 5 percent after it lost nearly 500 points on Monday.

The blue-chip index opened higher and went all the way up and closed up by 479.69 points, or 4.97 percent. It closed at 10,128.12 points. The The People's Bank of China (PBOC), the central bank, announced on Tuesday to cut the reserve requirement ratio (RRR) and lower key interest rates. According to the German business daily Handelsblatt, the move taken by the PBOC boosted the confidence of investors and brought the DAX index up.

All the 30 DAX member shares went up with Infineon Technologies AG, a semiconductor producer taking the lead. It gained 9.67 percent. Deutsche Telekom AG rose by 6.41 percent. BMW AG St advanced by 6.36 percent. Deutsche Bank AG added 6.23 percent. SAP SE went up by 5.92 percent.

The turnover stood at 7.77 billion euros (around 8.93 billion U.S. dollars). Daimler AG was the most traded share of the day with a turnover of 690.27 million euros (around 793.34 million U.S. dollars). Endit