China’s Stocks Rise in Biggest Intraday Rebound in Eight Years
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China’s stocks rallied in late trade after tumbling earlier, helping the benchmark index to its biggest intraday rebound in eight years.
The Shanghai Composite Index rose 2.2 percent to 4,576.49 at the close after sinking as much as 4.8 percent in the morning session, a 312-point recovery that was bigger than any since June 2007. Financial companies were among the biggest gainers, with Ping An Insurance Group Co. and Industrial & Commercial Bank of China Ltd. climbing more than 4 percent. Mainland markets were closed Monday for a holiday.