China Stocks Enter Bull Market as State Stimulus Reverses Rout
- Technology, financial, industrial shares lead rebound
- Brokerages rally today amid suspected state-linked buying
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China’s stocks rose, with the benchmark index entering a bull market, after an unprecedented state rescue effort halted a $5 trillion crash and ordinary investors returned to the market.
The Shanghai Composite Index climbed 1.8 percent to 3,522.82 at the close, taking its advance from its Aug. 26 low to more than 20 percent. Gains on Thursday were led by brokerages, while turnover was the highest since Aug. 18. The Hang Seng China Enterprises Index rose 0.7 percent in Hong Kong at 3:16 p.m., extending a 17 percent advance since this year’s Sept. 7 low.