China's attempt to rescue its stock market is failing as mainland equity rally falls flat

• China's efforts to prop up its stock market over the weekend led to brief rally that fizzled out on Monday.
• The CSI 300 stock index initially jumped 5.5% but later pared gains to just 1.2%.
• That came as global investors sold a net 8.2 billion yuan ($1.1 billion) of mainland stocks. 

A brief rally in Chinese stocks fizzled out in Monday trading, a sign that China's attempts to prop up its stock market are flailing as investors fret over the health of the nation's economy.