The Shanghai Composite Index rebounded by more than 2%.
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China's stock market rebounded from a four-year low on Friday, rising weekly. The news that the Chinese government will cut the deposit reserve ratio and optimistic expectations about the Sino-US trade negotiations have helped ease investor tensions.
CSI300 closed up 2.4% to 3,035.87. The Shanghai Composite Index. SSEC closed up 2.0% to 2,514.87.
The Shanghai Composite Index hit a four-year low after opening.
The Shanghai-Shenzhen 300 Index and the Shanghai Composite Index rose 0.8% each, ending a three-week decline.
Chinese Premier Li Keqiang said on Friday that efforts should be intensified to counter-cyclically adjust macroeconomic policies, further take measures to reduce taxes and fees, and make good use of comprehensive and directional alignment tools to support private enterprises and small and micro enterprises in financing.
China's Ministry of Commerce said on Friday that this morning, China and the United States held a call at the Deputy ministerial level, confirming that U.S. Deputy Trade Representative Grish will lead the U.S. Working Group to visit China from January 7 to 8 to hold active and constructive discussions with the Chinese Working Group on the implementation of the important consensus reached by the two heads of state Argentina.
The latest data show that China's service industry performed well in the last month of 2018, and the PMI of Caixin China's service industry rose to a half-year high in December.
Haitong Securities said in its report that it is strategically optimistic that the A-share market is in the final stage of the fifth round of ups and downs, and its valuation has reached the bottom.
Compared with other global stock markets, A-share market is more attractive, China has been developing equity financing to support industry upgrading, and household asset allocation will be more concentrated in the stock market, the report said.
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