Chinese stocks surged for two straight trading days amid suspected government buying, but plunges Monday and Tuesday left the market down nearly 8% for the week. China’s domestic market became the epicenter of a global selloff, with a five-session crash starting last Thursday triggering steep losses in U.S. and European stocks. Rumors of Beijing’s hand in the market reversed the selling by Thursday, which helped support global shares prices, commodities, and currencies of emerging markets that had been battered. The Shanghai Composite Index fell for second-straight week and posted a third month of declines, falling 11.8% in August. Hong Kong’s Hang Seng Index lost 12.3% this month, its worst monthly performance since September 2011. To quiet worries about its slowing growth, Beijing took several easing measures this week to get its economy back in gear, including an interest-rate cut and liquidity injections. The move follows a decision earlier this […]