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China: Stocks gain as central bank head reassures on economy

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[HONG KONG] Chinese stocks rose on Friday, with Shanghai clawing back heavy losses from the previous day as the head of the central bank sought to shore up confidence in the world's number two economy.

The benchmark Shanghai Composite Index gained 0.69 per cent, or 18.81 points, to 2,760.06. On Thursday, it closed down more than six per cent.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.68 per cent, or 11.84 points, to 1,750.51.

In Hong Kong, the Hang Seng Index rose 1.87 per cent, or 353.73 points, to 19,242.48 in opening deals.

AFP

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