For the first time in four sessions Chinese stocks have finished higher, and by some margin too.
The benchmark Shanghai Composite index, having been down modestly earlier in the day, rallied hard in the back-half of the session, finishing the day up 3.47% at 3790.25.
The surge, the largest in percentage terms since July 17, took the 12-month gain for the index to 73.6%.
All of ten industry sectors rose for the session with industrials, materials, utilities, healthcare and technology all logging gains in excess of 4%. Financials and energy, the relative laggards, rose less than 0.5%.
As is usually the case, the movements in Shanghai were repeated in other mainland indices.
The SSE 50 of the fifty largest firms listed in Shanghai, rose 1.87% while the CSI 300 index, consisting of the 300 largest stocks by market capitalisation in Shanghai and Shenzhen, jumped 3.13%.
Small cap stocks, compared to their larger peers, outperformed over the session. The Shenzhen Composite and ChiNext index, laden with “new age” industries, jumped by 4.13% and 4.33% respectively. Those gains were replicated on the CSI 500 which soared by 4.88%.
While stocks remain lower for the week courtesy of the bloodbath witnessed on Monday, given the relatively small decline yesterday and huge gain seen today, it appears that policymakers are once again winning the battle to propel the markets higher.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.