China: Stocks end flat after volatile session

[SHANGHAI] China stocks ended flat after a highly volatile session, with major indexes swinging wildly in and out of negative territory following Friday's more than 5 per cent slump.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.3 per cent, to 3,566.41, while the Shanghai Composite Index also gained 0.3 per cent, to 3,445.40 points.

The indexes had plunged more than 3 per cent in early afternoon trading but bargain hunters managed to lift the gauges into positive territory at market close.

The wild swings reflect diverging views after the market rebounded over 20 per cent from its August lows.

Some analysts said the current correction is natural, and short-lived, while some others expect to see a repeat of the summer market rout if the economy continues to slide while the yuan keeps depreciating.

The real estate index has been very strong throughout the day, up 3.6 per cent at the close.

REUTERS