China: Stocks open higher after prolonged rout
[SHANGHAI] Chinese stocks bounced back at the open on Wednesday after a rally on Wall Street gave investors rare reason to cheer following a prolonged rout.
The benchmark Shanghai Composite Index rose 1.02 per cent, or 26.01 points, to 2,572.34.
The Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 1.04 per cent, or 13.03 points, to 1,269.40.
Global stock markets had risen on Tuesday as strong earnings from some major US companies helped shift the focus away from worries about rising interest rates and trade war fallout.
Concern over the Sino-US trade war and other economic issues have made Chinese stocks the world's worst-performing this year, with China indices hitting their lowest points in four years last week.
AFP
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
South Korea readies new system to detect illegal short-selling
Asia: Markets mixed as global rally stalls, eyes on yen
Singapore shares retreat at Thursday’s open; STI down 1.1%
Stocks to watch: Keppel, FCT, Suntec Reit, OUE Reit, Clint, Digital Core Reit, OKP, Cordlife
Europe: Stoxx 600 falls on banks drag; tech contains losses on ASMI boost
US: Stocks end flat ahead of key inflation data