The official Xinhua news agency said authorities would maintain capital market stability and adopt measures to handle risks for troubled property developers.
The news lit a fire under Hong Kong's Hang Seng Index, where mainland Chinese tech firms had been reeling from a sell-off this year fuelled by a government crackdown on the sector.Traders pounced on the report to snap up beaten-down firms that have been hit by concerns about regulatory crackdowns by Chinese and US authorities.
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