The Chinese stock market rallied again on March 17 after the government firmly backed the economy.
The benchmark Shanghai Composite Index rose 1.4 percent and reclaimed the 3,200 threshold. More than 3,600 shares were up. The Shenzhen Component Index was up 2.41 percent to 12289.97, the ChiNext by 2.87 percent to 2710.73.
After 8 straight days of capital flight, foreign capital is flowing back in. More than 5 billion yuan went into the market.
The Hang Seng Index grew 7.04 percent to 21,501.23 and the Hang Seng Tech Index was up 7.76 percent to 4572.79.
China concept stocks in the US bounced back too. Zhihu was up 80 percent, Kingsoft Cloud rose 72 percent.
A spokesman for China’s ministry of commerce told the US government that China will take action to protect the rights and interests of Chinese companies.
