Originally posted by the Voice of America.
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             Chinese Stocks Rebound After Beijing's Calming Efforts

   by VOA News

   Chinese stocks fluctuated wildly Thursday but ended with big gains
   after Beijing announced a series of new measures to calm a three-week
   slide.

   Shanghai closed up nearly 5.8 percent, after having fallen nearly 3.5
   percent shortly after trading began. It was the index's biggest one-day
   gain since 2009.

   Hong Kong also dove after the opening bell, before recovering to add
   nearly 4 percent near closing.

   Investors elsewhere in the region followed China's lead, with stocks
   ending up in positive territory in Tokyo, Seoul, and Sydney.

   Mainland traders have sold shares at a rapid pace in recent days,
   contributing to a slide that has wiped out about 30 percent of market
   value since mid-June.
   China's Securities Regulatory Commission took the desperate step
   Thursday of barring large shareholders from selling shares for the next
   six months.

   The Xinhua news agency says police will also start an investigation
   into "vicious short-selling," complex arrangements that allow investors
   to profit from a decline in a stock's value.

   Around 1,400 listed mainland companies, or around 40 percent of the
   market, have halted trading in attempt to shield themselves from the
   mass sell-off.

   The Chinese stock market crash, combined with Greece's debt crisis, has
   rattled investors globally.

   U.S. Treasury Secretary Jack Lew said Wednesday there is a "real"
   concern the rout could affect China's long-term growth, which is
   already slowing.

   "How do Chinese policymakers respond to this, and what does it mean in
   terms of core conditions of the economy?" asked Lew at an event in
   Washington.

   Some analysts have questioned whether the Chinese government's
   extensive intervention in the markets is helpful or is simply delaying
   an inevitable correction.

   In recent days, Beijing has sought to encourage stock purchases by
   cutting key interest rates, reducing stock transaction fees and
   relaxing rules on how much money traders must deposit in order to buy
   stock.

   On Wednesday, the government agency that oversees the country's biggest
   state-run companies told them not to sell shares but to buy more, "in
   order to safeguard market stability."
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   [1]http://www.voanews.com/content/chinese-stocks-rebound/2854666.html

References

   1. http://www.voanews.com/content/chinese-stocks-rebound/2854666.html