China’s markets staged another swing in the last hour of trading, with Shanghai closing 5.3 per cent higher in its biggest leap since the bullish surge seven weeks ago. The $3.75tn Shanghai market has been rattling investors worldwide as it embarked on a roller-coaster ride, dented by growing fears of economic slowdown and the currency devaluation of August 11. Easing measures on Tuesday evening by the People’s Bank of China, including a rate cut, failed to galvanise investors but by Thursday the Shanghai Composite Index was back on form. It turned negative with just an hour to go before trading closed, then rallied 6 per cent to end 5.3 per cent higher.