A large jump in brokerage fees from stock-market turmoil in the final weeks of June is likely to show up as a modest but badly needed bump in China’s second-quarter growth. Beijing had hoped that its economic groundwork in recent months would start paying some visible dividends, and that a pickup in U.S. and European demand would boost exports. It will have to wait. Economists point to few signs of a decisive turnaround in the second quarter, which started against the backdrop of a broad stock rally and ended under the shadow of that rally’s collapse. The broader economy veered little from its recent slowdown course, underlining both how divorced the stock market remains from economic fundamentals as well as the economy’s sluggish response to the government’s efforts to revive it. China is targeting growth of about 7% for the year; a reading below that level in the second […]