
Chinese stocks experienced a significant rally on Wednesday, driven by anticipation of economic stimulus from Beijing. The CSI 300 Index rebounded by 1% after hitting a six-month low, and the Shanghai Composite Index rose by 0.9%. The Hang Seng Index increased by 1.35%, with the Hang Seng Tech Index up by 2%. The FTSE China A50 index futures also saw a rise of about 1%. Over 4,000 stocks were in the green, except for large state-owned banks and telecommunication service providers. The healthcare and information technology sectors led the gains, with the CSI 300 Index rising as much as 2%, the most since April 15. Global funds purchased $2.7 billion worth of Chinese stocks, contributing to the best rally in more than five months. The Shanghai Composite Index ended higher by 2.06 percent at 2,938.75 points. The rally was fueled by weak PMI data, which heightened expectations for further stimulus measures from Beijing.

⚡Chinese major stock indices extended declines before Thursday morning close, with a 1% drop in the Shenzhen Component Index. Chinese Nasdaq-like ChiNext Price Index falls by 1.45%. $SHCOMP -0.26% CSI 300 Index -0.58% Hang Seng Index $HSI -0.37% HS Tech Index -1.4%. $BABA +0.4%,… https://t.co/tglatWlNf7 https://t.co/ThiOTSW93O
Global funds snapped up $2.7 billion worth of Chinese stocks on Wednesday, a sudden comeback that helped drive the best rally in more than five months https://t.co/hu91b8Q89v
Weak Steel and Caixin PMI further adds to PBOC stimulus