China's key stock market index surged 5.3% Thursday, its biggest gain in eight weeks, as markets across Asia rose following Wall Street's rebound, giving investors some relief after gut-wrenching global losses.
The Shanghai Composite Index, whose steep drop in recent days triggered worldwide selling, gained 5.3% to close at 3,083.59 points, bouncing back from losses that wiped some 20% off its value over the last week. It was the biggest one-day gain since a 5.5% rise June 30.
Elsewhere in Asia, Hong Kong's Hang Seng rose 2.9% to 21,697.31 and Tokyo's Nikkei 225 added 1.1% to 18,574.