China State Funds Buy $8.9 Billion in Stocks to Halt Market Slump
Two major Chinese state funds bought $8.9 billion in equities to halt a stock market slump, the South China Morning Post reported. The purchases mark an accelerated effort by Beijing to stabilize domestic shares as equity prices slide.
Regulators are preparing to meet with key industry participants to coordinate additional support measures. The broader intervention aims to reverse the prolonged market decline and restore trading liquidity.
From the sources (7 posts)
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@firstsquawkBeijing steps in to stem China’s stock market decline with US$8.9b in purchases - SCMP
@businessChina is accelerating efforts to arrest a slump in its stock market, with two major state funds revealing fresh purchases and regulators set to meet with key industry participants