The stock market in China staged a strong comeback Thursday amid regional positivity. The Shanghai Composite rose 5.3 percent to close above three thousand after several days of steep losses.
The blue chip CSI300 index also rose six percent, posting the biggest daily percentage gains in two months. But the ChiNext underperformed. Major rallies in China's markets ironed out some of the investors concerns. Hong Kong's Hang Seng Stock Index, Japan's NIKKEI and South Korea's KOSPI also rose.
The Chinese central bank pumped more money into the market on Thursday to ease a liquidity strain. The People's Bank of China conducted 150 billion yuan, or over US$ 23 billion of seven-day reverse repurchase agreements.