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Chinese stocks jump after Beijing unleashes emergency support
Chinese stocks jumped on Monday after Beijing unleashed an unprecedented series of support measures over the weekend to stave off the prospect of a full-blown crash that was threatening to destabilise the world's second-biggest economy. In an extraordinary weekend of policy moves, brokerages and fund managers vowed to buy massive amounts of stocks, helped by China's state-backed margin finance company, which in turn would be aided by a direct line of liquidity from the central bank. Investors, who had ignored official measures to prop up the market as equity indexes slid around 12 percent last week, finally reacted, ... (full story)