Beijing, China (BBN)-Chinese shares have closed 5 per cent higher after massive losses there earlier in the week rocked markets around the globe.
The Shanghai Composite was up by 156.3 points to 3,083.59, reports BBC.
But the turnaround does little to make up for the sharp losses seen so far this week.
Shares elsewhere in Asia also made gains after a jump on Wall Street on Wednesday, which saw its biggest rise in four years.
In Europe, stock markets also rose. By midday, the FTSE 100 was up more than 2 per cent, as were the main indexes in Paris and Frankfurt.
The mood was lifted by remarks by US Federal Reserve official William Dudley, who said the case for a rate rise, which had seemingly been on the cards for September, now seemed “less compelling”.
Hong Kong’s Hang Seng index closed up by 3.6 per cent at 21,838.54 points
The region’s biggest stock market, Japan’s Nikkei 225, finished trading 1.1 per cent up at 18,574.44, building on strong gains made the previous session
South Korea’s Kospi also notched up gains for a second day. The index closed 0.7 per cent higher at 1,908.0 points
In Australia, the benchmark S&P/ASX 200 wrapped up the day 1.2 per cent higher at 5,238.70 points.
Severe losses on the Chinese market over the past week had sent shockwaves around the globe.
A move by the country’s central bank, the People’s Bank of China, to cut its key lending rate on Tuesday initially failed to calm the Chinese market.
Concerns about China’s slowing economic growth have been rising for months with a constant trickle of poor economic data, the latest of which last Friday suggested that factory activity shrank in August at its fastest pace in more than 6 years.
Analysts believe the tentative share market rebound indicates fears over China’s woes may have somewhat eased.