China Stocks Rebound After PBOC, Premier Wen Vow to Help Europe
This article is for subscribers only.
China’s stocks rebounded after Premier Wen Jiabao and the head of the central bank said they will help Europe resolve its debt crisis, easing concerns the export slowdown will worsen and drag down the economy.
The Shanghai Composite Index rose 0.3 percent to 2,352.43 at 10:36 a.m. local time, erasing a drop of as much as 0.4 percent. The CSI 300 Index added 0.5 percent to 2,535.05, led by material companies. Jiangxi Copper Co., the nation’s biggest producer of the metal, jumped 1.7 percent to 26.81 yuan. Cosco Shipping Co. advanced 0.5 percent to 4.50 yuan.