(Yicai Global) June 5 -- The Shanghai Interbank Offered Rates largely rebounded today after the People's Bank of China 's open market operations withdrew cash from its monetary system for the second day in a row.
 

The overnight SHIBOR continued to move down 14.50 basis points to 1.5930 percent, while the one-week rate gained 7.30 points to 2.47200 percent. The SHIBOR for three-month loans was up 1.40 bips to 2.9160 percent.
 

China's central bank pulled CNY210 billion (USD30.4 billion) in liquidity from its monetary system via open market operations today following yesterday's CNY90 billion withdrawal.

Editor: Ben Armour