Chinese Stocks Rally as Beijing Steps Up Economic Support

-- Chinese stocks rallied after Beijing took stronger action to support the world’s second-largest economy, showcasing determination to stem the market’s selloff.The CSI 300 Index advanced as much as 1.2% early Wednesday, its biggest gain in a month. A gauge of Chinese stocks listed in Hong Kong jumped more than 3%, set to end a four-day losing streak.

The CSI 300 Index had erased all the gains seen during their massive reopening rally that took off late last year as persistent concerns about the health of the property sector helped drive an unprecedented foreign outflow from the onshore market. While fresh measures are welcome news for stock investors, the rally’s sustainability remains in doubt.

Former President Donald Trump's final chief of staff in the White House, Mark Meadows, has spoken with special counsel Jack Smith's team at least three times this year, including once before a federal grand jury, which came only after Smith granted Meadows immunity to testify under oath, according to sources familiar with the matter.

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