1. China stock market: Shanghai share index rallies above 4,000, first time since July 2

China stock market: Shanghai share index rallies above 4,000, first time since July 2

China stocks extended their rebound on Monday, with the Shanghai Composite Index rising over 4,000 points - a key psychological level - for the first time since July 2.

By: | Updated: July 13, 2015 11:40 AM
china stock market news

China stocks extended their rebound on Monday, with the Shanghai Composite Index rising over 4,000 points – a key psychological level – for the first time since July 2. (Reuters)

China stocks extended their rebound on Monday, with the Shanghai Composite Index  rising over 4,000 points – a key psychological level – for the first time since July 2.

The benchmark index has so far rebounded nearly 20 percent from a four-month low hit last Thursday.

But the index is still down about 23 percent from its June 15 peak, when a three-week rout began that led to government taking a series of market support measures.

The Shanghai index is now mid-way between last week’s bottom and a perceived ceiling of 4,500 points, a level below which a government-backed bailout fund, formed by 21 brokerages, has promised not to sell.

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