Arab Today, arab today china stocks rebound tuesday morning
Last Updated : GMT 23:12:04
Arab Today, arab today
Arab Today, arab today

China stocks rebound Tuesday morning

Arab Today, arab today

Arab Today, arab today China stocks rebound Tuesday morning

Beijing - XINHUA

Chinese shares rebounded during Tuesday's morning session after a slump on the previous trading day, which had been triggered by weak economic data and a missing Malaysia Airlines plane. The benchmark Shanghai Composite Index grew 0.31 percent to end at 2,005.31 points by midday, while the Shenzhen Component Index jumped 1.69 percent to 7,238.65 points. The rebound was due to institutional investors propping up prices, as well as further reforms to China's banking and insurance sectors, which were announced on Tuesday morning at a press conference on the sidelines of the annual parliamentary session. Shang Fulin, head of the banking regulator, unveiled a pilot to establish five privately-owned banks, seen as China's latest step in opening up the financial sector. Coal, pesticide and fertilizer and chemical fiber led the rise. Their sub-indices increased 2.33 percent, 2.15 percent and 1.71 percent respectively. Bucking the trend, plane manufacturing still suffered with the average price of 13 companies down 0.14 percent, influenced by the missing Malaysia Airlines plane.

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