Chinese stocks bounce back from bear market on suspected state support

Chinese stocks rebounded on Friday after a sell-off dragged the benchmark index into a bear market, as surging trading volumes in the nation’s biggest exchange-traded funds (ETFs) pointed to possible state buying and major companies at the centre of the artificial intelligence trade sought to reassure investors. The CSI 300 Index rose 1 per cent to 4,075.44 as of 2.06pm local time, reversing an earlier decline of as much as 2 per cent. Turnover in several key ETFs tracking the gauge surged,...