Shanghai index rebounds 4.16%

SHANGHAI: The mainland stock market yesterday followed a sharp recovery in the United States to soar 4.16 percent, with a big increase in turnover.

The benchmark Shanghai Composite Index rose 199.94 points to close at 5003.33, led by large-caps. Gainers outnumbered losers 797 to 42. The Shenzhen Component Index jumped 3.65 percent to close at 15919.28.

Turnover on the two bourses swelled 50 percent to 115.3 billion yuan from the day before, indicating the return of bargain hunters.