The Chinese stock market experienced significant fluctuations this week, with the Shanghai Composite Index dropping by 0.7% below the 3,000 mark for the first time since the end of February, erasing all of its gains for March. This downturn was attributed to earnings disappointments and concerns over the sustainability of a policy-driven rally that began in February. Despite this, there was a notable rebound on Thursday morning. The Shanghai Composite Index briefly broke the 3,000 key level after the opening, while the Shenzhen Component Index and the tech-heavy ChinNext Price Index both saw increases of over 1%. The Hang Seng Index and the Hang Seng Tech Index also experienced rallies, with the latter surging by 3.8% and the former by 1.6%. Additionally, Chinese tech giant Tencent surged nearly 4% in Hong Kong to jump above HK$300 at one point, hitting a new three-month high.