China shares swing wildly on fears big correction looms after Thursday plunge

jueves 28 de mayo de 2015 22:57 GYT

* Chinese main indexes dropped more than 6 pct Thurs

* Selloff provoked by multiple factors given anxious market

* Analysts see more volatility to come

* Opinion split on if selloff marks start of wider correction

By Pete Sweeney

SHANGHAI, May 29 (Reuters) - China stocks bounced in and out of positive territory Friday morning in highly volatile trade after a Thursday rout saw main indexes lose over 6 percent in record turnover.

Both CSI300 index and the Shanghai Composite Index seemed to find a floor at mid-morning, but that came after the SSEC briefly fell more than 4 percent in early trade.

The ChiNext small cap growth board strongly outperformed, however, staying in positive territory, up between 1-2 percent.

The 4 percent SSEC fall, combined with the Thursday slide after a peak hit Wednesday, put the Shanghai market down over 11 percent in two trading days, considered technical correction territory by traders. But it only lasted for a blink before buyers moved back in.   Continuación...