China equities record biggest gain in 14 months on Tuesday amid authorities' all-out

[superadmin]

China equities record biggest gain in 14 months on Tuesday amid authorities' all-out effort to stabilize market

Chinese stocks on Tuesday have reportedly recorded the biggest gain in 14 months, reversing some of the losses after a straight six-day dip and a spiraling January, with the benchmark Shanghai Composite Index rebounding 3.23 percent to close at 2789.49 points, and the Shenzhen Component Index and ChiNext Index all soaring over 6 percent.

The recovery comes as state-owned Central Huijin Investment - deemed as a key player in the "national team" - pledged on Tuesday to ramp up investment in the A-share market, a timely boost to defuse looming liquidity stress, and as China's top securities regulator has recently mulled over what some industry insiders dubbed as an "all-out effort" to shore up market and crack down on illicit conducts. 

Analysts said these concrete measures have sent a clear signal of Chinese authorities' steadfast resolution to safeguard the stability of the capital market and foster its healthy development. Tuesday's rally also mirrors investor's recovering confidence in Chinese equities, which analysts believe "could have gradually stabilized" as it took some time for the market to digest panic sentiment, and jotted investors have calmed to some extent with a raft of robust policy support.  

- More -