China market rebounds 0.73%

The Mainland China stock market ended higher in volatile trade on Monday, 16 November 2015, bucking the regional market weakness, in the wake of news that the Chinese yuan moved closer to joining IMF SDR basket and President Xi Jinping statement at the weekend that the country is able to maintain a medium to high economic growth rate and to grow at around 7% this year. The Shanghai Composite Index rose by 0.73%, or 26.12 points, to close at 3606.96 points, erasing a decline of as much as 1.7%. The Shenzhen Composite Index, which tracks stocks on China's second exchange, grew 2.06%, or 45.41 points, to close at 2250.98. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, was up 3.21%, or 87 points, to close at 2797.16.

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