China market rebounds 2.3% on govt. support hopes

Mainland China's stock ended sharply higher on Friday, 07 August 2015, snapping two days of falling streak, on prospects of consistent government support for the market and reports that trillions of yuan funds likely re-enter the equity market. All 10 SSE sectors climbed up, with telecommunication, technology, consumer discretionary, industrials and material sectors being top losers. The benchmark Shanghai Composite Index ended 82.67 points, or 2.26%, higher at 3744.20 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 3%, or 63.51 points, to 2177.15 points. Total volume of A shares traded in Shanghai was 44.55 billion shares, while Shenzhen volume was 25.19 billion shares. For the week, the Shanghai index rose 2.2%.

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