Markets

Chinese stocks rebound more than 1.2% Friday

(Xinhua)
Updated: 2010-08-13 16:02

BEIJING - Chinese shares recovered more than 1percent Friday as bargain hunting investors turned aggressive on speculation that the government will not introduce more tightening measures amid economic slowdown.

Related readings:  China's stocks rise as economy cools  China's stocks drop to 2-week low on global slowdown  China's stocks open slightly lower - Aug 11  China's stocks open slightly higher - Aug 10

The benchmark Shanghai Composite Index, which tracks the bigger stock exchange in China, extended its early gains and regained the key 2,600 mark to close at 2,606.7 points, up 31.22 points, or 1.21 percent.

The Shenzhen Component Index rebounded sharply by 206.55 points, or 1.93 percent, to close at 10,886.57 points.

Combined turnover shrank to 175.55 billion yuan ($25.8 billion) from Thursday's 191.91 billion yuan.