China stocks struggle to rebound after global markets slump

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China stocks struggle to rebound after global markets slump

SHANGHAI - China stocks struggled to rise on Tuesday despite the rebound in regional markets as investors remain concerned about its lagging economic recovery.

"There's limited impact as China's stocks are already lying on the floor, and relatively immune from volatility in global markets," said Xia Haojie, an analyst at Guosen Futures in Shenzhen, adding many foreign investors had already left China, and those who suffered heavy paper losses aren't likely to sell further.

Regionally, Japanese stocks jumped at the open on Tuesday, nearly recovering Monday's losses, part of a broader recovery across battered Asian share markets. They gained following comments from overseas central bankers to soothe nerves. Overnight, Federal Reserve San Francisco President Mary Daly said it was"extremely important" to prevent the labour market tipping into a downturn, adding that her mind was open to cutting interest rates as necessary and policy needed to be proactive.

 

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