China stocks rebound 3% on hopes for new economic stimulus

Chinese stocks rebounded roughly 3% on Tuesday, as weak quarterly economic data strengthened market expectations the government will unveil more stimulus moves.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 3%, to 3,223.13, while the Shanghai Composite Index gained 3.2%, to 3,007.74 points.

China's economic growth eased to 6.8% in the fourth quarter from a year earlier, matching expectations but still the slowest in 25 years, putting pressure on policymakers to roll out more support measures.

China's economy has been slowing, falling below 7% last year, however, markets seem to have discounted the dismal data, which they say was largely in line with expectations, and are instead looking the government now to dole out more stimulus to kick up the economy.