China Stocks Soar in Biggest Single-Week Jump Since 2008

An abrupt move by China’s leaders to prime the economy with stimulus has produced a powerful rally in the country’s stocks, which have posted their biggest single-week gain in nearly 16 years.By midday on Friday, the CSI 300 index of big Chinese companies traded in Shanghai or Shenzhen was up 14.9 percent this week.The strong performance included an increase of 3.8 percent in trading on Friday.The gain has been the largest in a single week for the index since November 2008, when share prices were gyrating violently with the onset of the global financial crisis.The volatile Hang Seng Index in Hong Kong, which includes a range of companies with activities in Hong Kong and in mainland China, was also up 12.9 percent so far this week.The increases pulled the mainland Chinese CSI 300 index into positive territory for the year and have sent Hong Kong stocks rocketing 21 percent higher in 2024.

Those are big turnarounds for markets that have been lagging those in other parts of Asia and the United States for well over a year.Sharp gains in China could shore up public confidence, at least temporarily, as the Chinese economy faces broadly falling prices, weak retail sales and a housing meltdown.The government has been trying to rebuild confidence to persuade consumers and home buyers to start spending money.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access.

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