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Chinese Stocks Erase Losses to End Higher Amid Talk of Support

  • CSI 300 large-cap share index posts best week since November
  • There’s a belief authorities are helping the stock market: UOB
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Photographer: China Photos/Getty Images
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Chinese stocks swung higher in late afternoon trading amid speculation that state-backed funds stepped in to steady the market.

The Shanghai Composite Index reversed losses of as much as 0.9 percent to end 0.3 percent in the black. The CSI 300 Index followed a similar path, erasing the day’s drop to finish 0.9 percent higher and cap its best week since November. China Vanke Co. surged by the 10 percent daily limit in Shenzhen after Sanford C Bernstein & Co. raised its rating on the stock and increased its price target by 60 percent.