Acting a day after the Shanghai and Shenzhen stock markets plunged more than 7 percent, China’s central bank cut interest rates on Saturday and reduced the reserves that certain banks must hold. The two measures send a signal that the government may not be eager to see an abrupt end to a stock market rally that has seen prices more than double in the last 12 months. The rally has been underpinned by speculative trading heavily financed with borrowed money. Young, often poorly educated investors have been betting on further appreciation even as business managers, with more information on the true health of their ... (full story)