After Friday’s bloodbath, Chinese stocks have bounced strongly on Monday.
At least so far.
Here’s the scoreboard at the mid-session break.
SSE 50 2814.39 , 0.16%
Shanghai Comp 3155.02 , 0.80%
Shenzhen Comp 1718.95 , 2.36%
CSI300 3890.62 , 1.30%
CSI500 5684.48 , 2.33%
ChiNext 1638.93 , 2.92%
After being the relative outperformer on Friday, the gains today are yet again being led by small caps with the Shenzhen Composite, CSI 500 and tech-heavy ChiNext Indexes all up by between 2.33% to 2.92%.
After plunging a session earlier, large cap stocks are still the laggards with the SSE 50 and CSI 300 up 0.16% and 1.3% respectively.
The SSE 50 comprises the 50 largest stocks by market cap listed in Shanghai while the CSI 300 is made up of large cap stocks listed in Shanghai and Shenzhen.
The benchmark Shanghai Composite Index is also lagging with a gain of 0.8%.
All sectors are trading in the black with the exception of financials which are currently nursing a decline of 0.79%.
Technology, healthcare, consumer discretionary, consumer staples and telecoms are leading the recovery with gains of between 1.5% to 3.1%.
Still, even with those impressive gains, it’s only helped to partially reverse the large losses seen in prior sessions.
Chinese markets will close on Thursday for a week-long Lunar New Year holiday.
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