China markets closed higher after taking another rollercoaster ride, as state-directed spending appeared to ride to the rescue, one day after a tumultuous shortened trading session.
The bluechip composite CSI 300 closed up 2.04 per cent amid reports that China’s state-backed funds were once again buying up shares.
On Thursday the securities regulator said that its promulgation of permanent rules restricting stock sales by large shareholders did not indicate that the “national team” is withdrawing from the market.
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