Chinese stocks rallied, sparking the benchmark index’s biggest intraday swing since 1992, on speculation the government will take steps to prevent bear-market losses from deepening.
The Shanghai Composite Index rose for the first in four days, jumping 5.5 percent to 4,277.22 at the close, the most since March 2009. The gauge swung 432 points from the highs and lows, propelling a volatility measure to a seven-year peak. An industry group representing brokerages called on investors and fund managers to take responsibility to stabilize the market after a weekend interest-rate cut failed to stem a rout.
The government is considering a delay in the initial public offering of China Nuclear Engineering Corp., according to people with knowledge of the matter. The delay is being considered because of current market conditions.