China stocks rally on funds support

Mainland China's stock market ended higher on Friday, 17 July 2015, marking a second day of winning streak, on easing liquidity concerns after reports that China Securities Finance Corp., a state-backed agency that provides margin finance and liquidity to the market, has offered 2.5 trillion yuan to 3 trillion yuan liquidity support to brokerages and to purchase stocks and mutual funds. Sentiment also received a boost after more companies resumed trading amid signs of revival. The benchmark Shanghai Composite Index advanced 134.18 points, or 3.51%, to finish at 3957.35 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 5%, or 103.90 points, to 2190.42 points. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, climbed 5.95 percent to end at 2783.32 points. The Shanghai Composite Index gained 2.1% for the week.

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