China Put Can Be Game Changer for Stock Market After Global Rout

China’s top financial policy committee has vowed to ease a crackdown on technology firms, support the battered real-estate market and stimulate the economy. Photo: Bloomberg

(Bloomberg) — When the week started, JPMorgan Chase & Co. analysts warned that China’s internet stocks were “uninvestable.” The world is in a different place now.

Following a string of dramatic interventions by Beijing, the worst selloff in Chinese markets since 2008 turned into a historic surge, catapulting the country’s U.S.-listed technology firms into a rebound not seen before. For investors who’ve been burned many times by abrupt somersaults in government policy, the question is whether the rally will hold, turning the world’s second-biggest economy into a haven for traders and a life-raft for global output amid concerns over a broad slowdown.