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Chinese Stocks Rebound With Yuan as State Media Appeal for Calm

Chinese Stocks Rebound With Yuan as State Media Appeal for Calm

Chinese stocks rose, reversing Wednesday’s slump, as state media sought to downplay recent market turbulence and the central bank set a stronger daily currency fixing than traders had expected. Xinhua News Agency said moves in financial markets were within a controllable range and valuations for some industries had fallen to lows. Signs of a bottom are emerging in China’s battered stock market.