Chinese Stock Market Rises Amid Government Measures

© AP Photo / Mark SchiefelbeinChinese investors play cards as they sit in a brokerage house in Beijing, Friday, July 10, 2015
Chinese investors play cards as they sit in a brokerage house in Beijing, Friday, July 10, 2015 - Sputnik International
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Shenzhen Composite Index showed a 4.02-percent growth, Shanghai Composite Index ran up to 5.12 percent, while Hang Seng China Enterprises Index demonstrated a 3.8-percent increase.

A pedestrian looks at an electronic board showing the stock market indices of various countries outside a brokerage in Tokyo April 9, 2015 - Sputnik International
China’s Stock Market Crash Unrelated to US, Foreign Manipulation
BEIJING (Sputnik) — The main Chinese stock exchange soared on Friday after the government implemented supportive measures this week.

The rebounding Chinese stock market has not seen this fast an upsurge of the quotation rate since 2008.

Chinese market dramatically declined over the past month, losing more than 30 percent, or about $3 trillion. The government implemented a package of supportive measures to stem the decline.

Authorities froze the sale of shares of those owning over than 5 percent of a company and established a $20-billion fund for the country’s largest brokerage firms to buy stocks. The Ministry of Public Security initiated an inquiry about possible machinations of the stock market, and the central bank lowered interest rates and the reserve requirement ratio.

Together, the stock exchanges of Shenzhen, Hong Kong and Shanghai are the second largest in the world after the United States stock exchange, with a capitalization of about $9.5 trillion.

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