After experiencing market volatility for several days, Chinese stock bounce back. The rebound of Chinese stock market trigger gain in European market and Wall Street.

Washington Post reported that London's FTSE 100 and German DAX indexes regained some ground lost this week. Futures on the Dow Jones Industrials index and Standard and Poor's 500 were around 0.8 percent up while Nasdaq composite index was 0.7 percent higher.

The rebound in Europe and U.S occurred after Chinese CSI 300 Index in Shanghai and Shenzhen closed 2 percent higher. Chinese authorities interfered to stabilize the currency, bought shares and suspended a circuit-breaker system.

The circuit breaker system in China stock market activate a trading halt at 7 percent market drop. On Thursday trading, the system stop the trading less than half hour of trading, triggered global financial panic.

China Securities Regulatory Commission suspended its circuit breaker system after the system triggered a trading halt for second time. Jeremy Klein, Chief Market Strategist at FBN Securities told CNBC News,"I think China's suspending their circuit breaker rule was a great help ... The thinking is there's not going to be this mad rush to the opening bell."

Chinese government has been critized for its action to introduce a poorly designed circuit breaker system. Market analyst at IG, Angus Nicholson said, "Markets will be waiting to see the Chinese government's determination to prop up the stock market and the currency into next week before any major recovery rally is likely to be seen."

Although the market has stabilized, European foresaw the worst week since August..Pan-European FTSEurofirst 300 index is down 4.5 percent so far this week, and is down nearly 17 percent from its 2015 peaks reached in April according to Reuters.

Mining stocks are the among the top gain after big losses in previous session. Glencore and BHP Billiton up between 1.4 percent and 4.1 percent. While some other sectors still experience a hiccup.

Auto stocks was under pressure. Germany's BMW and Daimler dropped sharply over 4 percent, while Volkswagen was down 4.7 percent. Luxury goods was not performing well either. Swatch, Richemont and Christian Dior all closed at lower value, due to their reliance on Chinese consumers.

Mark Mobius, a famous fund manager from Franklin Templeton Investments said volatility is likely to continue this year, "As we see it, there is no question that China should continue to have strong growth this year, but one might say China is facing a bit of a conundrum. On the one hand, the government wants stability, but on the other, it also is striving toward more openness."

In the long run, it seems Chinese market need to have a strong growth. Its position as the second largest economy and the second largest importer of goods and commercial services are very important to world economy.