Chinese Stocks Rebound as Officials Consider Market Rescue Package

(Bloomberg) — Chinese stocks rebounded early Tuesday as policymakers were said to consider a package of measures to stabilize the slumping market, giving investors hope that the battered asset class may see at least short-term relief.

The Hang Seng China Enterprises Index rose as much as 3.8% as Bloomberg reported authorities are seeking to mobilize about 2 trillion yuan ($278 billion) as part of a stabilization fund to buy shares onshore through the Hong Kong exchange link. The index closed more than 2.7% higher Tuesday.