China stocks bounce on bargain buying

Mainland China share market closed higher in volatile trade on Wednesday, 04 March 2015, boosted by bottom fishing following yesterday heavy losses. Stocks in the pharma, retailer, consumer goods, and materials and resources stocks posted strong gains after the HSBC Markit survey showed activity in China's service sector grew modestly in February as new orders rose at their quickest pace in three months. But offsetting the gains were weakness in financial and real estate stocks amid lingering worries over economic health. The CSI300 index, the largest listed companies in Shanghai and Shenzhen, advanced 22.92 points, or 0.65%, to 3530.82, while the Shanghai Composite Index advanced 16.48 points, or 0.51%, to 3279.53, after dropping 2.2 percent on Tuesday.

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