Chinese stock index jumps 5.3 percent as Asian stocks rise
Source: AP
By JOE McDONALD
BEIJING (AP) China's main stock index surged 5.3 percent Thursday, its biggest gain in eight weeks, as markets across Asia advanced in the wake of Wall Street's rebound, giving investors some relief after gut-wrenching global losses.
The Shanghai Composite Index posted its first gain in six days to close at 3,083.59 points, bouncing back from losses that triggered worldwide selling and wiped nearly 23 percent off its value over the past week. It was the biggest one-day increase since June 30.
Elsewhere in Asia, Hong Kong's Hang Seng rose 2.9 percent to 21,697.31 and Tokyo's Nikkei 225 added 1.1 percent to 18,574.44. Sydney's S&P ASX 200 advanced 1.2 percent to 5,233.30 and Seoul's Kospi gained 0.7 percent to 1,908.00. Markets in India, Singapore, Bangkok, New Zealand and Jakarta also rose.
European markets also advanced in early trading. France's CAC-40 increased 2.1 percent to 4,597.36 and Germany's DAX gained 2.4 percent to 10,240.92.
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A Chinese investor walks past a display of the Shanghai Composite Index at a brokerage in Beijing on Thursday, Aug. 27, 2015. China's key stock market index surged 5.3 percent Thursday, its biggest gain in eight weeks, as markets across Asia rose following Wall Street's rebound, giving investors some relief after gut-wrenching global losses. (AP Photo/Ng Han Guan)
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