Mainland China's stock market closed sharply higher in volatile trade on Thursday, 09 July 2015, as the regulatory measures to rein in the gyrations seemed to restore investor confidence. China's securities regulator, in its most drastic step yet to arrest a selloff on Chinese stock markets, banned shareholders with large stakes in listed firms from selling for the next six months, while announcing Thursday banks can roll over loans backed by shares. The Shanghai Composite Index jumped 5.76%, or 202.14 points, to 3709.33. It fell as much as 3.81% and rose up to 6.88% during the day, representing a swing of more than 10%. The Shenzhen Composite Index, which tracks stocks on China's second exchange, ended up 3.76%, or 70.90 points, to 1,955.35.
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