Chinese stocks jump over 3%

But in Hong Kong the benchmark Hang Seng Index eased 0.69 percent, or 155.13 points, to 22,360.63, a day after advancing more than three percent.

The ChiNext index, which tracks China’s NASDAQ-style board of growth enterprises, rallied 5.2 percent to close at 2,190.31.

“China is back from its week-long National Day celebrations and has plenty to catch up on”, said Evan Lucas, market strategist at IG. China’s official purchasing managers’ index rose to 49.8 in September. “There are also a few technical reasons for the rebound as investors are likely to start rebuilding portfolios after reducing positions before the holidays”, he said.

“Mainland shares are catching up with a rally in global shares”, said Ronald Wan, chief executive at Partners Capital worldwide in Hong Kong. “There’s a few turnaround in sentiment but investors’ confidence will fade easily if the economy doesn’t recover as expected and increases the market’s volatility”. The report will provide more detail on the thinking behind the Fed’s decision as well as possible clues on timing of the rate hike, which many economists now expect to come next year.

Traders have cut bearish wagers on the Deutsche X-trackers Harvest CSI 300 China A-Shares exchange-traded fund to a seven- month low amid expectations the latest policy efforts to stimulate the Chinese economy and the postponement of higher USA rates will help stabilize the mainland stock market. The median stock in the index, where low-cost banks have a few of the biggest weightings, trades at 49 times profit, the highest level among benchmark gauges in the world’s 10 biggest markets. The MSCI All-Country World Index slid 9.9 per cent.

I’ve missed you. China’s stock markets re-opened after a week long recess. It had been up 2 per cent earlier.

Although Thursday’s trading volume in Shanghai jumped by 60 percent from the previous session to 23.35 million shares, it was still just a quarter of its early-June peak, just before Chinese markets began a nosedive of a few 40 percent. Even after the rout, the Shanghai Composite is valued at 15.3 times reported earnings, compared with its three-year average of 13.