China Market settles higher

The Mainland China stock market settled higher after recouping initial losses on Wednesday, 30 December 2015, thanks to a late rally in banking shares. But gains were marginal as traders awaited manufacturing activity surveys for December. Risk appetite was also curbed by the looming expiration next month of a six-month ban on share sales that was imposed on listed companies' major shareholders during the summer market rout. The Shanghai Composite Index advanced 0.26%, or 9.14 points, to close at 3572.88. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.9%, or 21 points, to close at 2351.35. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, jumped 1.08 %, or 29.69 points, to close at 2779.51.

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