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China-linked stocks climb on bevy of stimulus measures

U.S.-listed shares of Chinese firms and China-focused funds jumped on Friday and are set for another day of strong gains, aided by the latest in a line of aggressive stimulus measures to propel economic growth in the world's second-largest economy. The People's Bank of China has lowered interest rates and reduced the amount of cash banks must hold as reserves by 50 basis points.

Reuters reported that in the coming weeks, cities Shanghai and Shenzhen are planning to lift key home purchase restrictions in the coming weeks, with more fiscal measures expected to be announced.

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