China Markets Rally as Authorities Take Steps to Lift Sentiment

(Bloomberg) — Chinese stocks jumped after authorities boosted efforts to woo back investors to one of the world’s worst-performing equity markets, with measures including a cut in the stamp duty on stock trades and curbs on share sales by major stakeholders.

The CSI 300 Index of Chinese mainland stocks rallied as much as 5.5% early Monday before paring more than half of the gains by the mid-day break. Some brokerage stocks surged by the 10% limit on optimism over increased trading activity. The yuan edged higher while government bonds fell.