Stock market today: World stocks gain as China releases plan to finance share buybacks

BANGKOK — World shares have mostly gained after China’s central bank released plans for supporting the stock market through share repurchases by companies and major shareholders.

Growth so far this year has averaged to 4.8%, below the official target of about 5%, as weakness in the property market has continued to weigh on demand. The news helped drive a rally in Shanghai, where the Composite index gained 2.9% to 3,261.56. The benchmark for the smaller market in the southern city of Shenzhen jumped 4.1%.

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