Meanwhile, the smaller Shenzhen Composite Index jumped 63% while the ChiNext, or so-called China’s Nasdaq, surged 86%.
Supporting China’s markets, Beijing has implemented a number of measures to resuscitate the markets after the late-summer fallout. The measures have bolstered investors’ confidence that the government will support the equities market. [A-Shares ETFs Renew Hope on China Stimulus Talks]
“When we asked people would they invest in stocks, the answer was yes, because the government is supporting the market,” Francis Cheung, head of China-Hong Kong strategy at CLSA Ltd, told the WSJ.
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Max Chen contributed to this article.