China Stocks Rebound as Beijing Intensifies Efforts to Stem Rout
- Benchmark CSI 300 Index up more than 2%, HSCEI jumps 4.2%
- Huijin’s move will encourage more funds to buy: Long Hui
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Chinese equities rallied as Beijing stepped up its efforts to stem a rout with a string of policy announcements including a state fund’s vow to boost stock purchases.
The onshore benchmark CSI 300 Index climbed as much as 2.8% on Tuesday, offering a reprieve to investors who have had to grapple with wild market swings over the past two sessions. The Hang Seng China Enterprises Index of major Chinese companies listed in Hong Kong jumped more than 4%.