Chinese shares rebound

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Chinese shares rebound

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Mainland Chinese shares rebounded on Thursday. The Shanghai Composite index reversed earlier losses to close up 5.76%, its biggest gain since 2009.

The bounce comes after the country’s securities regulator banned shareholders with large stakes in listed firms from selling.

It is seen as their most drastic step yet and is the latest of a string of new rules in the past week to try and relive pressure on Chinese shares.

More than 25 percent has been knocked off the value of shares since mid-June. Some global investors fear China’s market turmoil is a bigger risk to the financial system than the crisis in Greece.