China stocks bounce back as intervention restores stability

Investors react in front of screens showing stock market movements at a brokerage house in Shanghai on July 29, 2015. (JOHANNES EISELE/AFP/Getty Images)

After a dramatic plunge of more than 8 per cent in Chinese stocks on Monday, China’s securities regulator announced probes into share “dumping” and pledged to buy stocks to calm the market, while the central bank hinted at more policy easing.

That followed moves in recent weeks in which the authorities temporarily banned shareholders with large stakes from exiting their positions and issued a string of warnings against short-selling, or betting on falls in its domestic “A-share” market.

“The possibility for A shares to rebound in the following month is quite big given liquidity is rich in the market now and short-selling ability has been largely curbed,” said Zhang Qi, an analyst at Haitong Securities in Shanghai.

The Shanghai Composite Index broke a three-day slide to close up 3.5 per cent on Wednesday and the CSI300 index of the largest listed companies in Shanghai and Shenzhen jumped 3.1 per cent.

China’s Sun sets sights on golden haul in Kazan

Chinese swimming sensation Sun Yang cannot seem to escape the spotlight in or out of the water, and at the world championships, starting in russia on Aug. 2, the towering freestyler will again be the name of everyone’s lips.

A multiple world and Olympic gold medallist, Sun’s feats in the pool are already legendary but it is his exploits on dry land that have attracted the most attention in recent years.

At London in 2012, Sun became the first Chinese man to win an Olympic swimming gold medal when he took the 400 metres and 1,500m freestyle double.

President Erdoğan in China to boost trade, investment

 

Chinese President Xi Jinping, (R) shakes hands with Turkeys President Recep Tayyip Erdoğan, as they attend a signing ceremony at the Great Hall of the People in Beijing, China, 29 July 2015 (EPA photo)
Chinese President Xi Jinping, (R) shakes hands with Turkey’s President Recep Tayyip Erdoğan, as they attend a signing ceremony at the Great Hall of the People in Beijing, China, 29 July 2015 (EPA photo)

President Recep Tayyip Erdoğan began an official visit to China on Wednesday with a visit to the Monument to the People’s Heroes in Tiananmen Square, where he placed a wreath.

He then travelled to the National People’s Congress for a private meeting with Chinese Prime Minister Li Keqiang.

The visit lasted for around an hour and was closed to media.

Erdoğan later held a meeting with Chinese President Xi Jinping, after which both presidents spoke to the media.

“The future of China-Turkey relations is very bright and has great potential,” Xi Jinping said in remarks before the media at the Great Hall of the People in central Beijing.

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