China stocks soar, extending stimulus-fuelled rally

CSI 300 blue-chip index closes up 8.48%, posting biggest daily gain since 2008

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Chinese stocks extended one of their most remarkable turnarounds in history on Sept 30, soaring for a ninth straight day as government stimulus entices investors back to one of the most beaten-down markets worldwide.

The CSI 300 blue-chip index closed up 8.48 per cent, its biggest daily gain since 2008, after clocking its best weekly performance in nearly 16 years last week.

The index, which lost more than 45 per cent of its value from a 2021 high through mid-September, has soared 27 per cent to enter a technical bull market.

The Shenzhen Composite Index on China's second exchange soared 10.93 per cent on Sept 30, while Hong Kong's Hang Seng Index rallied 2.43 per cent.