China stocks close up sharply in late spike, but volumes still subdued
SHANGHAI, Sept 16 (Reuters) - China stocks ended up sharply on Wednesday helped by a spike in the final minutes of trade, a frequent phenomenon in mainland markets generally interpreted as government intervention to push up values before the closing bell.
That marks the best single-day gain since August 27.
Onshore stock markets had slumped on Monday and Tuesday, raising fears that another slide could be underway.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen jumped 5.0 percent, to 3,309.25, while the Shanghai Composite Index gained 4.9 percent, to 3,152.26 points.
Volumes, however, remained subdued; the 10-day average volume in Shanghai has been sliding steadily since August.
Total volume of A shares traded in Shanghai was 27.7 billion shares, while Shenzhen volume was 23.4 billion shares.
(Reporting by the Shanghai Newsroom; Editing by Shri Navaratnam)
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