China stocks rebound on rate cut

Mainland China's stock market ended solidly higher on Thursday, 27 August 2015, as investors chased for bottom fishing on battered blue chip stocks after heavy selloff in recent sessions. Risk sentiments improved after the Chinese central bank's easing decisions calmed market concerns over economic slowdown. The benchmark Shanghai Composite Index rebounded 156.30 points, or 5.34%, to 3083.59, following a 20-percent loss since last Thursday. The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 3.33%, or 56.45 points, to 1752.21. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 3.68% to close at 1,959.49.

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