Chinese Stocks Rebound After Commerce Ministry Underpins Trade Deal
Tang Shihua
/SOURCE : yicai

 

(Yicai  Global) Dec. 5 -- Chinese stock markets have risen gradually from opening lows Wednesday, as the commerce ministry sought to boost investor confidence in trade between China and the US. 


The trade talks were successful, the Chinese commerce ministry said in a statement this morning. "We are confident of the implementation," said a ministry spokesperson, adding that further talks will be held in 90 days.


Bargain hunting activities pushed the major indexs rebound from opening low, at lunch break, the Shanghai Composite Index was only down 0.21 percent to 2660.25 points, it went as low as 2625.91 points, down 1.36 percent at the open.


The  Shenzhen Component Index cloesd up 0.20 percent to reach 7969.51 points, the index was 1.62 percent down  at the open.


The ChiNext Price Index, mostly comprising small-cap companies, was up  0.85 percent to 1,390.44 points,it was 1.41 percent down at the open.


Three major US market index all lost more than 3 percent yesterday. Investors started to take their gains after President Donald Trump's aides struggled to explain what exactly was agreed on between China and the US at the G20 summit. 


Editor: Emmi Laine 


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