China's stocks soar 5.3 percent, following U.S. in global rally


China's benchmark Shanghai Composite Index closed up 5.3 percent on Thursday, ending a six-day free fall and posting its biggest one-day gain since June. The rally in China, following a hefty rebound in U.S. stocks on Wednesday, helped lead markets higher around the world. Japan's Nikkei closed 1.1 percent higher, Hong Kong's Hang Seng jumped 2.9 percent, and Sydney's S&P ASX 200 closed up 1.2 percent. Shares on European exchanges were also up in early trading. The U.S. stock rally was attributed to comments from a Federal Reserve official suggesting the Fed won't raise interest rates in September.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
Downton Abbey: The Grand Finale – a ‘comfort’ watch for fans
The Week Recommends The final film of the franchise gives viewers a chance to say goodbye
-
The Paper: new show, same 'warmth and goofiness'
The Week Recommends This spin-off of the American version of The Office is ‘comfortingly and wearyingly familiar’
-
Rachel Jones: Gated Canyons – ‘riotously colourful’ works from an ‘exhilarating’ painter
The Week Recommends The 34-year-old is the first artist to take over Dulwich Picture Gallery’s main space
-
New York court tosses Trump's $500M fraud fine
Speed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in Intel
Speed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to China
Speed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with Disney
Speed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year