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Thursday, October 22, 2015, 16:05

China shares rebound

By Agencies

SHANGHAI - China stocks rebounded more than 1 percent on Thursday, with the previous session's roughly 3 percent slide seen as creating a buying opportunity for some investors who missed the recent rebound.

Both the blue-chip CSI300 index and the Shanghai Composite Index advanced 1.5 percent, to 3,524.53 and 3,368.74 points, respectively.

The Shenzhen Component Index rose 3.56 percent to close at 11,305.1 points. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 4.84 percent to close at 2,458.14 points.

Total turnover on the Shanghai and Shenzhen bourses increased to 893.1 billion yuan ($140.7 billion), down from 1.17 trillion yuan on the previous trading day.

China's stocks made a major correction on Wednesday after more than a week of rises. All major stock indices were down in the trading session, with the benchmark Shanghai Composite Index tumbling 3.06 percent for the whole day to close at 3,320.68 points.

Guo Yiming, analyst with Jfinfo.com, believed Thursday's rebound is just a beginning of a bull market in the fourth quarter.

Healthcare stocks led the growth, with "Health China" expected to be included in a national health construction plan for the next five years which is being compiled by the National Health and Family Planning Commission.

E-commerce shares also rose robustly during the trading day ahead of China's week-long online shopping bonanza surrounding Nov 11, nicknamed "Singles' Day" and the traditional Christmas and New Year shopping period.

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