China stock rebound erodes yen's gains

London

THE yen surrendered some of this week's gains and the Australian dollar gained on Thursday after Chinese stocks showed signs of stemming a rout that has rippled through global markets.

The 6 per cent gain in Shanghai shares was enough to prompt some optimism from investors after a rough month dominated by the eurozone's troubles with Greece and a drop of more than 30 per cent in China's main market indexes.