Sharp rebound on Chinese financials: Index closed 19,790.279 (+239.39)

Last night the European markets stablized, but the US markets slumped with DJIA finished at 9,908 (-104) as dragged by the financials, the first time since last Sept. in closing below 10,000. The AP markets were mixed as opened this morning.

This morning the Feb. futures opened at 19,442 (+73), bringing the stock market to open at 19,494 (-57). The market then hovered at the 19,550 level with low buying interest from the market. The morning session finished at 19,586 (+35). Half day turnover was 31.2 bil HK$ only.

During the lunch break, the China financial markets rebounded. The afternoon market then opened high and quickly went back to the 19,800 level. The market finished at 19,790 (+239). Total turnover of the day is 51.6 bil HK$.

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