China’s efforts to steady its economy and markets include an indication that they are willing to pause the technology crackdown that has battered the sector for 18 months. But the move, which sparked a rally on Friday, is policy makers’ latest acknowledgment of the country’s intense economic pain, which means the turning point for Chinese stocks isn’t yet here.
The KraneShares CSI China Internet exchange-traded fund (KWEB) soared more than 10% Friday to $29.05, with widely held stocks like Tencent Holdings (ticker: 700.Hong…