Beijing’s efforts to shore up its financial system finally started to bear fruit on Thursday, with the Shanghai Composite Index posting its biggest gain in six years.
The benchmark Shanghai Composite Index advanced 5.8% to close at 3,709, its biggest percentage gain since 2009. Meanwhile, the tech-heavy Shenzhen Composite Index closed the day up 4.25%, its first jump in seven days.
In Hong Kong, the Hang Seng Index also gained 3.73%, while the China Enterprises Index was up 3%.
Thursday’s surge followed a new series of measures to try and stem the market rout.
Shortly after the open, China’s banking...