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China: Stocks end down, pare losses on stronger yuan
[SHANGHAI] China stocks ended lower but pared initial losses on Monday, with sentiment bolstered by a sharply stronger yuan and a surge in Japanese equities.
Investors returning from the week-long Lunar New Year holiday also took advantage of the weak start to trading - triggered by last week's global sell-off - to hunt for bargains.
The stronger yuan, which eased fears of depreciation for now, helped offset the impact from disappointing Chinese trade data early in the session, traders said.
Having declined nearly 3 per cent in early trade, both the CSI300 index and the Shanghai Composite Index closed the session down only 0.6 per cent , at 2,946.71 points and 2,746.20 points, respectively.