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China: Stocks jump at open, catching up after global market rebound

[SHANGHAI] Chinese stocks opened up over 3 per cent on Thursday, its first day of trade after a week-long holiday, catching up with gains posted in global markets.

During Oct 1-7, when Chinese markets were closed for the National Day holiday, Hong Kong's Hang Seng Index gained 8 per cent, the Dow Jones Industrial Average rose nearly 4 per cent while global oil prices also staged a robust rebound.

The CSI300 index rose 3.7 per cent to 3,321.03 points at 1:31 GMT, while the Shanghai Composite Index gained 3.3 per cent to 3,153.86 points.

Stock index futures also surged.

China CSI300 stock index futures for October rose 4.6 per cent, to 3,270.4, 50.63 points below the current value of the underlying index.

The Hang Seng index in Hong Kong was down 0.3 per cent, to 22,452.70 points.

REUTERS