Chinese stocks crashed 6%, then closed at a seven-year high

China Photos/Getty Images

Chinese stocks, having been down significantly earlier in the session, have made a stunning recovery this afternoon.

The Shanghai Composite finished the session up 0.76% at 4,947.10, closing at the highest level in the past seven years.

Earlier in the session it had been off more than 6% on the back of rumours several Chinese brokerage firms had tightened restrictions on margin lending.

For those of you who don’t have a neck injury here’s the chart of the Thursday’s session.

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