What's happening: After a rough start to the week on broader market declines, shares of SINA Corporation (NASDAQ:SINA) are up 11.4% as of 12:00 p.m. Thursday as China markets enjoyed their biggest single-day pop in over six years.

Why it's happening: The move comes again with no news specific to SINA. But after losing ground in eight of the last 10 sessions, the Shanghai Composite index is up an impressive 5.8% today as investors regain confidence in Chinese government efforts to stem the recent declines. For perspective, the Shanghai Composite has fallen nearly 28% over the past month, but still finds itself almost 15% higher so far in 2015 after big gains earlier in the year.

SINA, for its part, has netted a 29% gain over the same period, largely thanks to a massive pop early last month after CEO Charles Chai agreed to make an enormous $456 million cash investment in the company. That vote of confidence helped appease shareholders' concerns over whether SINA's stake in Weibo can continue to drive growth as the company works to drive value from its other online media verticals. 

As for today, however, investors shouldn't read too much into the pop considering it's widespread and has little to do with SINA's underlying business.

Steve Symington has no position in any stocks mentioned. The Motley Fool recommends Sina. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.