Wall Street Addict

Chinese stocks rebounded in volatile trading Tuesday following their sharpest one-day drop in three months as strong buying by institutions offset selling by retail investors.
The benchmark Shanghai Composite Index gained 2.6 percent to 3,767.10 after a rollercoaster session that saw the index plunge as much as 7.2 percent earlier in the day. It fell 8.3 percent on Monday -- the benchmark's sharpest decline since an 8.8-percent drop Feb. 27 triggered a global market sell-off.
The Shenzhen Composite Index for China's smaller second market rose 2.5 percent to 1,066.05.
Prices rebounded as investors returned to snap up bargains, analysts said.
"It is still a bull market. After five days of declines, I think it's time for the market to bounce back," said Chen Huiqin, an analyst at Nanjing-based Huatai Securities Co.
The Shanghai index had fallen three of the last five days.
European share markets gained in early trading and Asia markets also were generally higher, with Japan's benchmark index climbing 0.5 percent and Hong Kong shares also up 0.5 percent.
Source: AP

Labels: China, Japan, Shanghai Composite, Shenzhen Composite