China stocks narrowed their losses after declining from a high opening on the first trading day after the Lunar New Year holiday, boosted by media and entertainment stocks.

The Shanghai Stock Exchange Index stood at 3,238 points, down 0.36 percent by midday after once slumping to as low as 3,227 points, with a half-day turnover of 349 billion yuan (HK$373.18 billion).

The Shenzhen Component Index recorded 10,201 points, 0.44 percent higher, rebounding from a floor of 10,132 points.

China’s cinemas recorded box office takings worth over 1 billion yuan in the seven consecutive days of the Spring Festival period.