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1st LD-Writethru: China stocks rebound after slump

Xinhua, January 20, 2015 Adjust font size:

Chinese shares rebounded on Tuesday following Monday's 7.7 percent slump, the steepest daily fall since June 2008.

The benchmark Shanghai Composite Index gained 1.82 percent to end at 3,173.05 points. The Shenzhen Component Index climbed 2.09 percent to end at 10,996.48 points.

Total turnover on the two bourses increased to 710.1 billion yuan (115.98 billion U.S. dollars) from the previous trading day's 701.3 billion yuan.

Gains were seen across the board except the financial sector, which was Monday's biggest loser. Citic Securities and Haitong Securities fell by 9.89 percent and 8.83 percent respectively, extending their 10-percent losses on Monday.

Medical equipment producers and ship makers posted handsome gains. China Resources Wandong Medical Equipment Co., Ltd, Tianjin-based Andong Health Co., Ltd and Shenzhen Prince New Materials Co., Ltd grew by the daily limit of 10 percent.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, surged 4.34 percent to end at 1,700.85 points.

China's economy grew 7.4 percent in 2014, in line with market expectations and registering the weakest expansion in 24 years, the National Bureau of Statistics (NBS) said Tuesday. Endi