BEIJING'S speedy response to stock market turmoil led to a big relief rally today as shares in China tech giants including Tencent and Alibaba rebounded more than 20%.
The supportive comments from China officials included a pledge to address the uncertainty caused by a recent regulatory clampdown on internet firms.
The Chinese tech index soared by a record 20% and the Hang Seng in Hong Kong jumped 9%, reversing much of the losses seen after a Covid-19 lockdown in the tech-hub city of Shenzhen sparked fears of wider supply chain disruption.
The positive sentiment spread to London, where the FTSE 100 index improved by a bigger-than-expected 1% or 76.53 points to 7,252.23.
Diese Geschichte stammt aus der March 16, 2022-Ausgabe von Evening Standard.
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