The People's Bank of China (PBOC) announced a 0.5% cut in the reserve requirement ratio, which has led to significant rallies in Chinese and Hong Kong stock markets. The Shanghai Composite Index surged 4.15%, marking its largest single-day rise since July 2020, and the ChiNext jumped 5.54%. The Hang Seng Index increased by nearly 4%, approaching the 19,000 mark, while the Hang Seng Tech Index rallied nearly 5%. China's A50 Index saw its largest one-day rally in over 2.5 years, closing up 5.7%. The broader market experienced a significant rally following these monetary policies aimed at boosting the economy. The Shanghai Composite Index also surged 2.4% to jump above the 2,800 mark. Daily turnover of A-shares topped CNY 970 billion, the highest since May 20th. Stocks such as China Resources Mixc, Li Ning, and Mengniu Dairy all jumped nearly 7%.