China stocks end mildly down after big recovery June 25, 2013 Mainland Chinese stocks ended mildly lower Tuesday, staging a major recovery after sustaining steep losses during the session, as speculation that policy makers would elaborate on the ongoing credit crunch pulled in bargain buyers. The Shanghai Composite Index had plunged as much as 5.8% earlier in the day on heightened worries about the economic impact from high borrowing costs in the interbank money markets. It recovered most of the lost ground to finish the day 0.2% lower at 1,959.51. The session marked the 14th decline for the Shanghai Composite in 16 trading days. At Tuesday’s close, the benchmark is down 19.5% from the 52-week peak it reached on Feb. 6. The Shenzhen Composite CN:SHCOMP -0.19% , which had slumped more than 7%, also charted a similar course to end 0.2% down at 879.93. The recovery came on news that policy makers from multiple Chinese agencies, including the People’s Bank of China, and the banking and capital market regulators, would address the media later this week at the Lujiazui Forum — a conference on major financial issues facing China.
Posted on: Tue, 25 Jun 2013 13:26:55 +0000
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