China Stocks rebound on easing liquidity concerns

Mainland China stock market closed higher on Wednesday, 21 December 2016, as investors chased for bottom fishing after benchmark hits a six-week low previous day. Meanwhile, buying pressured underpinned as fears of a liquidity squeeze in the banking system subsided after risks from a bond scandal appeared contained, and on a pledge to deepen reforms in state-owned sectors. Most sectors gained, led by infrastructure and transport plays, while properties and banks steadied. The Shanghai Composite Index rose 1.11% to 3,137.43, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.74% to 1,996.03. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, added 0.47% to close at 1,991.70 points.

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