Stock market gains 5.2%, snapping 10-day skid
19 June 2008
Mainland stocks rebounded yesterday, snapping a 10-day decline, Bloomberg reported. The CSI 300 Index, an index that tracks the performance of the 300 most representative A-share stock listings, gained 5.2% to finish at 2,991.27, its biggest advance since April 24, Bloomberg reported. Stocks gained on speculations that the government will intervene to support the market following its 10-day, 22% drop, which seen the benchmark index's price earnings ratio fall to its lowest in two years. The CSI 300 Index has lost US$1.2 trillion since its 2007 October peak.