SINGAPORE/TOKYO (Reuters) - Asian shares rebounded on Friday, led by strong gains for battered Chinese stocks after China suspended its market circuit breaker and set a firmer midpoint rate for trading of the yuan for the first time in nine days.
Shares in Asia were still on track for their biggest weekly fall in more than four months, but Friday's advances seemed to reduce some of the fears that have hit global markets.
China announced late on Thursday it suspended its new stock market circuit breaker introduced only on Monday as the system failed to reduce market volatility, with some market players even saying it backfired
I am not particularly interested in this news because whatever the circuit breaker does, it cannot replaced a human's analysis. The rebound we see now was predicted yesterday and this morning before market opened. The news came after that. Tomorrow is a good day for sharing this wonderful secret on my prediction. See you guys there!
Ronald K - Market Psychologist - A Stock Market Opportunist
