China’s stock markets rebounded in volatile trading Friday after authorities moved to stabilize the currency, bought shares and suspended a circuit-breaker system that fueled days of global financial panic.
As a degree of confidence trickled back to China, global markets also took heart from the Chinese government’s rescue act.
Wall Street opened higher Friday after a more than 2 percent dive on Thursday. But by late morning, U.S. stocks had started to fall, turning slightly negative and cementing one of the roughest starts to a trading year in decades.
In China, the CSI 300 Index in Shanghai and Shenzhen closed 2 percent higher, recovering after an early decline. Gains were more modest in other Asian markets, and European exchanges held onto gains.
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