Chinese stocks surged as rescue efforts were stepped up by authorities, despite a general decline in Asia due to fading hopes for a quick change in the Federal Reserve’s policy towards easing. The Hang Seng Index saw a 2% increase while the CSI 300, mainland China’s benchmark, rose by 1.8%. These gains followed additional measures taken by Beijing to halt a stock market decline, including expanding trading restrictions for investors, including quantitative funds. The announcement by the country’s sovereign wealth fund to further increase its holdings of exchange-traded funds also boosted investor sentiment.
