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Chinese shares rebound Friday after sharp corrections

Date: 2018-10-16
Views: 35

Chinese stocks rebounded after steep declines Thursday, closing higher on Friday with blue-chip stocks leading the rally.

The benchmark Shanghai Composite Index gained 0.91 percent to close at 1,428.03 points. The Shenzhen Component Index closed 0.45 percent higher to end at 7,558.28 points. Both sprang from slight dips at opening.

Blue-chip stocks led the gains. The SSE 50 Index, which tracks 50 stocks on the Shanghai Stock Exchange with large market capitalization and high liquidity, jumped by 2.24 percent.

Combined turnover on the two bourses stood at 308.9 billion yuan (about 44.7 billion US dollars).

China's A-share market plummeted Thursday along with other major Asian indices in a spillover of the US stocks tumble which comes amid fears for rising interest rates and a sell-off in tech shares.

 


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