Chinese Stock Markets Snaps Three Day Losing Streak

Shares in mainland China bounced back significantly on Wednesday as the government’s moves to calm investors restored some stability to the market.

The benchmark Shanghai Composite closed 3.4% higher at 3,789.17 – ending a three-day slide that included an 8% plunge on Monday.

Authorities tried to calm markets with a probe into illegal share “dumping”.
They also pledged to buy stocks, while the central bank hinted at possible further easing.

Investors’ confidence was also boosted by a higher close overnight for Wall Street, with the Dow Jones breaking a five-day losing trend.

Hong Kong’s Hang Seng was also higher, ending up 0.5% to 24,619.45 points.

via BBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza