China Market rebounds after President verbal support

Mainland China stock market ended higher in volatile trade on Tuesday, 3 May 2016, as risk sentiments encouraged by hopes of improvements in corporate fundamentals and President Xi Jinping's after-market hours call late last Friday to maintain a healthy development of the stock market. Mainland market largely shrugged off a disappointing survey on China's manufacturing sector. The benchmark Shanghai Composite Index advanced 54.32 points, or 1.85%, to 2992.64. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, grew 56.79 points, or 1.8%, to 3213.54.

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