China Stocks Cap Best Two-Day Rally Since 1998 on Support Pledge
- Equities add to Wednesday surge after plunging earlier in week
- Foreigners net buy mainland shares first time since March 4
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Chinese stocks had their biggest two-day advance since 1998 as Beijing’s strong push to stabilize financial markets and stimulate the economy lured buyers back after a relentless selloff.
The Hang Seng China Enterprises Index rallied 7.5%, with technology and property shares among the top gainers after officials promised to ease a regulatory crackdown and pledged support for companies in the sectors. That followed an almost 13% jump in the previous session for the gauge of Chinese firms listed in Hong Kong.