China Stocks Rise as Brokerages Ban Short Selling to Stem Losses
Who's to Blame for China's Stock Market Swoon?
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China stocks rose, with the benchmark index rebounding from a three-week low, as some brokerages halted their short-selling businesses amid increasing state intervention to stem the rout in equities.
The Shanghai Composite Index gained 3.7 percent to 3,756.55 at the close, snapping a three-day, 4.4 percent drop. China Southern Airlines Co. and China Eastern Airlines Corp. jumped by the 10 percent daily limit as oil prices held near a six-month low. Turnover in the index slumped 36 percent below the 30-day average.