China Stocks Surge After New Measures to Boost Markets
(Bloomberg) — Chinese stocks jumped after authorities announced a slew of measures to woo back investors including a reduction of the stamp duty on stock trades and a slower pace of initial public offerings.
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The CSI 300 Index of mainland shares rallied as much as 5.5% early Monday, the most in three years, with some brokerage stocks gaining up to the limit. The Hang Seng China Enterprises Index rose 3.8%, while the Hang Seng Index also advanced more than 3%.