Chinese Stocks Bounce Back as State Funds Come to the Rescue
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China’s stock market rebounded following a historic selloff on Monday, as a group of state-linked funds known as the national team scooped up assets and the central bank promised loans to help stabilize the market.
The Hang Seng China Enterprises Index closed up 2.3%, giving investors a reprieve after it capped its worst day since the financial crisis. The onshore CSI 300 Index, which had dropped more than 7% the day before, ended 1.7% higher.