HONG KONG — Shares in China and Hong Kong rebounded on Thursday after sharp declines on Wednesday, as the central bank announced the start of a major operation to support the market.
The CSI 300, which measures large market caps listed in Shenzhen and Shanghai, rose 1.6% to close at 3,997.79. It opened lower in the morning after falling more than 7% on Wednesday, marking its biggest one-day decline since 2020, amid skepticism about how quickly authorities will pursue policies to stimulate the sluggish economy and whether more will be forthcoming.