(MENAFN- Saudi Press Agency) Chinese stocks jumped sharply Thursday after falling on opening for the third consecutive day, amid aggressive measures by the authorities to shore up share prices, dpa reported.
The benchmark Shanghai Composite Index was down over 3 per cent in
morning trading, but recouped the losses to close up 5.8 per cent.
The Shenzhen Component Index opened 0.8 per cent lower but closed 4.3
per cent up , while the ChiNext Index, tracking growth enterprises,
opened 1.1 per cent lower and rallied to close 3 per cent up.
In the latest measures to stop the slide in share prices, China's
central bank said Thursday that it has injected 35 billion yuan (5.7
billion dollars) into the money market through open market
operations.
The bank would also allow the national margin trading service
provider to issue short-term bonds in the interbank market to
replenish liquidity.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.