-
China is pumping money into stocks and markets are loving it
Chinese stocks staged their biggest rally in years Tuesday, after the country’s sovereign wealth fund said it would step up buying shares as officials scramble to draw a line under a three-year market rout. The Shanghai Composite, mainland China’s benchmark index for large state-owned companies and blue-chip stocks, ended up 3.2% on Tuesday, ending a six-day losing streak. It marks the biggest daily increase since March 2022. Smaller companies did even better. The Shenzhen Component Index rose 6.2%. It was the index’s best daily gain since September 2015, while startup index ChiNext had its best performance in ... (full story)