Chinese shares tried to rally on Friday as hopes for more policy stimulus in Europe and Japan offered a much-needed but tenuous reprieve to oil and global equities. Concerns about a near-term yuan devaluation were slowly fading as the People’s Bank of China (PBOC) steered a steady course for the currency daily midpoint fix (CNY=SAEC). European and U.S. markets took heart after European Central Bank President Mario Draghi dropped a heavy hint that more stimulus could come as early as March.