The outstanding value of stocks shorted stocks has fallen to US$7.2 billion, the lowest since July 2020. China’s policymakers have responded with a slew of measures to boost confidence in the nation’s stock market.
“China seems to be divorced from the rest of the world,” said Steve Sosnick, chief strategist at Interactive Brokers. “Part of the lack of equity response is that the global economy is doing OK without China. The prior reactions occurred when China was a bastion of growth in a shakier world.”
Wu Qing, a former chair of the Shanghai Stock Exchange with a reputation for being tough on market misbehavior, is the new head of the China Securities Regulatory Commission.
Hong Kong stocks retreat after rising to the highest since January 11 as investors look to Alibaba’s earnings to add to other recent bullish report cards.