US STOCKS-Wall St trims strong gains fueled by China relief

jueves 9 de julio de 2015 14:54 GYT

* Chinese regulator restricts sale of shares

* Cautious optimism on Greece

* Coty falls after agreeing to buy P&G's beauty business

* Indexes up: Dow 0.25 pct, S&P 0.3 pct, Nasdaq 0.4 pct (Updates to afternoon trade)

By Tanya Agrawal

July 9 (Reuters) - U.S. stocks trimmed earlier strong gains in afternoon trading on Thursday after Wall Street found relief in Beijing's efforts to halt a rout in Chinese stocks, which lifted markets around the world.

Wall Street had fallen sharply in the previous session as market turmoil in China, a rout in commodity prices, the Greek debt crisis and a major outage on the New York Stock Exchange spooked investors.

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.

About 30 percent has been knocked off the value of Chinese shares since mid-June. Some investors fear that the turmoil in the Chinese market could destabilize the global financial system, making it a bigger risk than the Greek crisis.   Continuación...