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China's stocks end losing streak amid credit loosening hopes

(Xinhua)

19:57, November 24, 2011

BEIJING, Nov. 24 (Xinhua) -- China's stocks rebounded mildly on Thursday, with the benchmark Shanghai Composite Index ending a six-day losing streak amid hopes for more credit-loosening measures.

The Shanghai Composite Index edged up 2.49 points, or 0.1 percent, to close at 2,397.55.

The Shenzhen Component Index clambered 9.43 points, or 0.1 percent, to finish at 9,966.74.

Combined turnover expanded slightly to 104.97 billion yuan (16.5 billion U.S. dollars) from 101.27 billion yuan on the previous trading day.

Losers outnumbered gainers by 562 to 326 in Shanghai, and 768 to 557 in Shenzhen.

The rebound came after China's central bank confirmed Wednesday that the reserve requirement ratios for six rural banks in the eastern province of Zhejiang will be rolled back to 16 percent from the current 16.5 percent, effective Friday.

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