China Stocks Surge After New Measures to Boost Markets

Chinese stocks jumped after authorities announced a slew of measures to woo back investors including a reduction of the stamp duty on stock trades and a slower pace of initial public offerings.

The CSI 300 Index of mainland shares rallied as much as 5.5% early Monday, the most in three years, with some brokerage stocks gaining up to the limit. The Hang Seng China Enterprises Index rose 3.8%, while the Hang Seng Index also advanced more than 3%.

The levy charged on stock trades will drop from 0.1% to 0.05% as of Aug. 28, the Ministry of Finance said ...