China stocks recover further from plunge, led by finance and property shares

miércoles 21 de enero de 2015 00:56 GYT
 

* CSI +2.3 pct; SSEC +2.2 pct; HSI +1.3 pct

* Market sentiment settles after Monday's tumble

* Financial and property stocks jump

By Sue-Lin Wong

SHANGHAI, Jan 21 (Reuters) - China stocks climbed on Wednesday morning, led up by finance and real estate shares as investors regained more footing and confidence after Monday's plunge.

The CSI300 index rose 2.3 percent, to 3,474.08 points at the end of the morning session, while the Shanghai Composite Index gained 2.2 percent, to 3,243.87 points.

On Monday, both indexes tumbled 7.7 percent - their biggest losses since June 2008 - on fears that steps by authorities to contain margin trading were meant to halt a recent rally.

That night, the Chinese regulator denied speculation on t had intentionally sought to suppress the rally.

"I think market sentiment has settled," said Cao Xuefeng, head of research at Huaxi Securities. "Monday night's announcement was aimed at not allowing market sentiment to crash out of control."   Continuación...