Sunday 25 September 2016

Chinese stocks halt their latest three-day slide

Kyoungwha Kim

Published 30/07/2015 | 02:30

An investor holds onto prayer beads as he watches a board showing stock prices at a brokerage office in Beijing. Photo: Reuters
An investor holds onto prayer beads as he watches a board showing stock prices at a brokerage office in Beijing. Photo: Reuters

Chinese stocks rose for the first time in four days yesterday as speculation of state support overshadowed signs of waning interest by retail investors and margin traders.

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Turnover was the weakest in almost in two months.

The Shanghai Composite Index climbed 3.4pc to 3,789.17 at the close, halting a three-day, 11pc slide.

The benchmark gauge rebounded in the last hour of trading to erase a loss of 1.4pc. About 30 stocks rose for every one that fell, led by industrial and technology companies. China Cosco Holdings jumped 10pc as shipping firms surged. Turnover on the Shanghai bourse has halved from its June peak.

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