"I think China has been acting a little more sensibly. They've been more rational. They've been more consistent. I think that's really stabilized the [stock] market," Fink told CNBC's "Squawk Box" at the World Economic Forum in Davos, Switzerland.
"In the first few weeks [of 2016], we saw ... some very large financial institutions selling. This week we saw buyers, starting on Wednesday," he said.
Exactly one week ago, Fink told "Squawk Box" that U.S. stocks could fall another 10 percent before all the market carnage was done.
Since then, the S&P 500 initially dropped about 6 percent, before cutting that decline in half as of Thursday's session, which saw a powerful rally that was continuing in the premarket Friday.
Fink seemed to be on the fence Friday about whether stocks overall need to see another 4 percent drop from last week's lows before the market can really shake the new year slump. "I do believe the market will be higher by year end," he said.
"For most people ... stay in equities. Be there in equities," he advised. "These are just corrections. As Warren Buffett says, 'It's a long race.' I think too many people are panicking over these corrections that are necessary."