China’s stocks rebounded from the biggest drop in three months as speculation grew the government will do more to support the economy and the official Xinhua News Agency said the nation’s bull market isn’t over.
Technology and financial companies led gains. China Life Insurance Co., the largest insurer, jumped 10 percent, while Industrial & Commercial Bank of China Ltd., the biggest lender, advanced 2 percent. Wangsu Science & Technology Co. jumped 6 percent and the ChiNext index advanced 4.9 percent.
The Shanghai Composite Index rose 1.2 percent to 4,348 at 10:58 a.m., heading for the biggest gain in a week. The gauge dropped 4.1 percent Tuesday. The decline wasn’t the end of the bull market and could instead help the market enter a “slow bull” mode advocated by regulators, Xinhua said in a commentary.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.