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China and Hong Kong stocks jumped Tuesday as authorities in the world’s second-largest economy took measures to arrest a recent sell-off in its equities, while most Asia-Pacific markets declined.
The CSI 300 index and Hong Kong’s Hang Seng index rose about 3.3% each. Mainland China’s CSI 300 had hit five-year lows last week.
According to a statement from the China’s securities and regulatory commission, it would “guide institutional investors ... to enter the market with greater efforts.” This comes at a time where a clear lack of targeted stimulus from Beijing weighed on market sentiment.
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Deep SeaOP : Strong rally and rebound in HSI, up over 600 points. This might led STI to turn green and rebound.
SpyderCall : It looks like investors might be warming up to the idea that the government might actually do enough to help equities.
Deep SeaOP SpyderCall: Yup. Chinese govt had noticed that HSI and Shanghai stock index had dropped a lot, especially HSI had crashed so low.