CNBC: China told citizens to buy stocks, boosting market — ‘We have the Fed…China has its state media’

Key Points

– China’s state media fed an already exuberant Chinese stock market some extra fuel Monday with a report that said fostering a “healthy bull market” is important.

– The Shanghai stock market, up nearly 6% last week, added another 5.7% after the report, along with gains in other Chinese markets.

– Stocks globally surged on the prospect of an improving China, but they were also supported by stimulus from the world’s central banks.

CNBC