Chinese stocks rebound after G20 meetings start

Chinese stocks rise as G20 policy makers meet in Shanghai to discuss how sluggish growth in global economy could be revived

Photo by: Reuters
Photo by: Reuters

An investor stands in front of an electronic board showing stock information at a brokerage house in Hangzhou, Zhejiang Province, February 25, 2016.

Chinese stocks rebounded on Friday as markets took a breather after sharp losses in the previous session, while investors awaited policy messages from Chinese and global leaders gathering in Shanghai for a G20 meeting.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen, which tumbled more than 6 percent on Thursday, climbed 1 percent to close at 2,948.03 points.

For the week, the index ended down 3.4 percent, its biggest such decline in three weeks and taking its losses for far this year to 21 percent.

Fears of tighter liquidity and worries about the economy kept many investors on the sidelines, traders said.

The Shanghai Composite Index rose 0.95 percent to 2,767.21 but finished the week down 3.2 percent, also its biggest loss in three weeks.

G20 finance chiefs and central bankers meet on Friday and Saturday. Current market turmoil and a global economic slowdown are expected to be key topics of discussion. 

TRTWorld, Reuters