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Article: Chinese stocks rebound from previous week's plunge.
- Article from:
- China Business News
- Article date:
- February 7, 2007
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Chinese stocks rebound from previous week's plunge
Shanghai. February 7. INTERFAX-CHINA - A-Share markets of Shanghai and Shenzhen staged a rebound so far this week thanks to technical buying and regulators' approval of new mutual funds.
The markets had plunged as much as 11 percent in the previous week amid reports that regulator worried the market had risen too fast in the past few months and investment bubbles are forming.
By Wednesday's close, the benchmark Shanghai composite index (SCI) gained 1.61 percent ending at 2,716.18 points. The counterpart Shenzhen composite index rose 4.07 percent closing at 666.96 points.
Bank shares, which remained heavy losers ...