【英语财经】周三中国股市强力反弹 China stocks end two-day drop, recover 5%

As far as late day rallies go, today's was pretty impressive.

In the final 90 minutes of trading the Shanghai Composite swung as much as 6.5 per cent higher to close with a 4.9 per cent gain. The Shenzhen Composite rebounded even more sharply, ending the day 6.5 per cent higher. Both indices are recovering from their worst two-day loss in three weeks.

The top 50 stocks in Shanghai closed 3.1 per cent higher, but the CSI 500, a collection of small cap stocks, rose 7 per cent. In Shanghai, every sector rose and 374 stocks - a third of the index - gained between 9.9 and 10 per cent, the upward daily limit.

Moves from Beijing certainly can't be ruled out, nor must they be necessary. Retail investors in China enjoy doing guesswork on policy moves and have shown they are willing to take big bets. Today's surge could reflect the many arms of Beijing taking action again, but they could also simply reflect hopes and assumptions of more policy easing from millions of investors.

For the month, the Shanghai and Shenzhen indices are still down 1.7 per cent and 6 per cent, respectively. For the year they are down 2.6 per cent and up 19 per cent. From their recent June peaks they are down 39 per cent and 46 per cent.

New data has been scarce but over the weekend China released numbers showing retail sales rose to a 10.8 per cent yearly pace in August, beating forecasts. That was offset by industrial output missing forecasts and growing just 6.1 per cent.

就尾盘涨势而言，中国股市今日的表现相当引人注目。

在最后90分钟的交易时段里，上证综指一度飙升了6.5%，最后收涨4.9%。深证综指反弹幅度更大，收涨6.5%。在经历了三周来跌幅最大的两个交易日后，这两个指数都开始收复失地。

上证50指数收涨3.1%，成份股为中小盘股的中证500指数收涨6.6%。沪市所有板块均告上涨，有374只股票涨幅在9.9%至10%，占上证综指所有成份股的三分之一。

当然不能排除北京方面采取了行动，但也未必是由此导致的。中国的散户喜欢猜测政策动向，而且已经证明了他们愿意展开豪赌。今日股市大涨可能反映出，中国政府掌控的机构再次采取了行动，但也可能仅仅反映出，数百万投资者希望和假设政府会进一步放松政策。

9月以来，上证综指和深证综指仍分别累计下跌1.7%和6%。今年以来，上证综指则累计下跌2.6%，深证综指累计上涨19%。与6月份的近期高点相比，上证综指和深证综指分别下跌了39%和46%。

译者/邢嵬