The CSI 300 closed slightly higher on Friday after an earlier drop as trading in funds linked to state buyers surged, prompting speculation that authorities moved to stabilize the market.
Chinese equities staged a sharp afternoon rebound on Friday after earlier losses, with investors citing speculation that state-linked buyers stepped in. The CSI 300 Index finished up 0.2 percent after falling as much as 1.6 percent.
The tech-focused Star 50 Index erased a drop of nearly 5 percent. Trading volume in eight exchange-traded funds commonly associated with the so-called National Team rose to almost 30 billion yuan, the highest in nearly two months.
No official confirmation of direct intervention was issued. The move followed a period of market weakness. Analysts have noted ongoing concerns over growth and property-sector pressures.
The rebound occurred amid broader global market gains. Chinese authorities have previously used state funds to smooth volatility, though Friday's action remained unconfirmed in public statements.
Further sessions will show whether the support is sustained or temporary.
People Sentiments Mixed
- Investors speculated on state buying after the volume surge in linked funds.
- No official statement confirmed intervention.