China's benchmark shares rebounded Friday from a 14-month low but ended the week down by 6.7 percent amid concerns the economy is slowing, according to AP. The benchmark Shanghai Composite Index edged up 9.11 points, or 0.4 percent, to close at 2,382.90. The Shenzhen Composite Index for China's smaller second exchange slipped by 0.6 percent to 925.68. Analysts said the recovery was a technical correction and a rally is unlikely to get under way because economic indicators from manufacturing and auto sales to investment have fallen as the government winds down stimulus. «It was merely a technical recovery. We, cautiously, just don't see any signs that the market will rebound in this slowing economy,» said Mao Sheng, an analyst for Huaxi Securities in the western city of Chengdu. Poly Real Estate Group, China's second-biggest developer, gained 3.9 percent to 10.51 yuan, while rival China Vanke Ltd. climbed by 3.7 percent to 6.93 yuan. China Construction Bank Ltd., the country's second-largest lender, rose 1.7 percent to 4.78 yuan, while Industrial & Commercial Bank of China Ltd. added 0.5 percent to 4.06 yuan. Bank of China Ltd. edged up 0.3 percent to 3.4 yuan. But nonferrous metal shares lost ground again on economic worries. Aluminum Corp. of China shed 1.8 percent to 8.76 yuan, while Jiangxi Copper Ltd., China's biggest metal producers, lost 1.7 percent to 23.02 yuan. In currency markets, the yuan strengthened to 6.7745 to the U.S. dollar, up from Thursday's close of 6.7836.
