CHB - China stocks close higher after some market reassurance

Looking to contain some of the fallout from a regulatory assault on its tech industry, China held a call with global investment banks including Goldman Sachs and UBS on Wednesday evening. China Securities Regulatory Commission Vice Chairman Fang Xinghai told the institutions that Beijing will consider the impact on markets when it introduces new policies in the future, and will allow Chinese companies to go public in the U.S. as long as they meet listing requirements. The news saw stocks in Shanghai and Hong Kong end the session up 1.5% and 3.2%, respectively. The recent crackdown has rattled international investors and led to a massive selloff over the past week in the shares of Chinese companies listed in the U.S. and Hong Kong. Among them: Alibaba (NYSE:BABA), Tencent (OTCPK:TCEHY), Meituan (OTCPK:MPNGY), TAL Education (NYSE:TAL), New Oriental (NYSE:EDU) and Gaotu Techedu (NYSE:GOTU). "Even when you think China risk is priced, it can get worse,"

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China stocks close higher after some market reassurance