China rolls out sweeping stimulus measures to buoy sagging economy

SHANGHAI -- Chinese stocks rallied on Tuesday after the central bank announced a string of interest rate cuts and new measures to boost the market, as it battles an economic slowdown.

The CSI 300 Index, a gauge of blue-chip stocks listed on mainland exchanges, closed 4.3% higher in the biggest single-day gain since July 2020. It also marked the index's fifth straight day of increases on expectations of additional stimulus. The benchmark is still down 2% from the end of last year. Hong Kong's benchmark Hang Seng Index also rose 4.13% on Tuesday.