Friday August 7, 2020

China said to intervene in stock market after $590 billion sell-off

Government funds purchased local stocks on Tuesday as China moved to support its sinking market

5th January, 2016
The CSI 300 index fell by 7% on Monday

China moved to support its sinking stock market as state-controlled funds bought equities and the securities regulator signalled a selling ban on major investors will remain beyond this week’s expiration date, according to people familiar with the matter.

Government funds purchased local stocks on Tuesday after a seven per cent tumble in the CSI 300 Index on Monday triggered a market-wide trading halt, said the people, who asked not to be identified because...

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