China’s Stocks Cap Biggest Gain Since 2009 as Volatility Surges
(Bloomberg) -- Nader Naeimi, head of dynamic asset allocation at AMP Capital Investors Ltd., talks about the month-long tumble for China stocks. He speaks from Sydney with Angie Lau on Bloomberg Television's "First Up." (Source: Bloomberg)
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China’s benchmark stock index capped the biggest gain since 2009 in volatile trading as the government battled to restore investor confidence in a market that lost $3.9 trillion in less than a month.
The Shanghai Composite Index jumped 5.8 percent to 3,709.33 at the close, erasing a loss of much as 3.8 percent. About 600 stocks rose by the daily 10 percent limit on the benchmark index. Another 1,439 companies were halted on mainland exchanges, locking sellers out of 50 percent of the market.