Mainland China stock markets expected to open lower

The Shanghai Composite to open down 0.6%

The CSI 300 also to open down 0.6%

The rate cut yesterday from China has met with not much enthusiasm:

• China's hefty rate cut is expected to provide an only marginal net stimulus to the economy

A fund manager in China who dumped shares is being made to repent publicly:

• China fund manager makes bullish comments on Chinese sharemarkets