China’s Stocks Reverse Declines as Traders Weigh State Support
This article is for subscribers only.
China’s stocks rose in late mainland trading to reverse an earlier plunge as investors weighed the level of government support for the equity market.
The Shanghai Composite Index gained 1.2 percent to 3,794.11 at the close, erasing a loss of as much as 5.1 percent. The gauge slumped 6.2 percent on Tuesday. Hundsun Technologies Inc. and Dongxu Optoelectronic Technology Co. both jumped 10 percent, leading a rally for companies that disclosed government-backed funds had bought their shares. The Hang Seng Enterprises Index slid 1.2 percent to a nine-month low in Hong Kong.