(Bloomberg) Chinese equities rallied as Beijing stepped up its efforts to stem a rout with a string of policy announcements including a state fund’s vow to boost stock purchases.Most Read from BloombergKing Charles Treated for Cancer in New Health Scare for MonarchyWhy NYC Apartment Buildings Are on Sale Now for 50% OffChina Tightens Some Trading Restrictions for Domestic and Offshore InvestorsEastern Europe’s Richest Woman Pivots $43 Billion Empire WestBonds Fall After ‘One-Two Punch’ of ISM
The China Securities Regulatory Commission said soon after Huijin’s announcement that it will continue to guide other long-term funds to enter the market with greater intensity, while supporting listed companies to increase repurchases.
Central Huijin Investment, a unit of the US$1.24 trillion China Investment Corp and a strategic investor in top Chinese banks, said on Tuesday that it had…
China's state-run funds have stepped in to shore up stock prices amid speculation that the rout in the capital markets has got the attention of the nation's top leader, as regulators struggled to overcome "uber-weak" confidence among global investors. The funds, often dubbed the "National Team," have bought 70 billion yuan (US$9.8 billion) worth of local shares over the past month, according to an estimate by Goldman Sachs. State-owned companies and the central bank are among the likely players,
By Sherry Qin Chinese shares notched their best day in years after Beijing signaled its intent to prop up the battered equities market, including by directing a trillion-dollar sovereign.