Hong Kong stocks jumped 9 per cent on Wednesday to mark their best day since 2008, after China’s top policymaker assured markets of stability and support and helped put a floor under sectors hurt by a regulatory crackdown.
Vice Premier Liu He said Beijing would roll out support for the Chinese economy as well as be cautious with measures for capital markets.
The comments came a day after China stocks slumped to 21-month lows and mainland firms listed in Hong Kong plumbed 2008 lows. Liu’s assurances helped the Hang Seng index claw back all the ground lost on Tuesday and more. The
Disclaimer: No Business Standard Journalist was involved in creation of this content