China’s market stabilises following torrid week

china economy

Meanwhile the blue-chip CSI300 index, which focuses on 300 of the largest companies listed on the Shanghai and Shenzhen stock exchanges, was trading over 7 per cent higher.

The mood was somewhat buoyed by sentiment in the US where Wall Street staged an impressive comeback following six consecutive days of losses.

According to Sky News, the S&P 500 which measures the fortunes of America’s biggest 500 companies closed up 3.9 per cent.

The Dow Jones was up nearly 4 per cent marking the biggest single-day gains in both of these indicies since 2011.

The US markets were supported by comments from the president of the New York branch of the Fed, William Dudley.

He said that rationale for a rate hike next month had become “less compelling.”

Earlier this week, Sir Martin Sorrell told Sky News’ City Editor, Mark Kleinman, that a 2015 rate rise in the US was now “off the table.”

Sizeable gains were across Europe at the open this morning with all of the major markets trading around 2 per cent higher.