China’s biggest money manager E Fund Management will purchase 200 million yuan (US$27.3 million) of its own exchange-traded fund (ETF) product from the open market after a heavy fall in its book value, reflecting the heavy losses suffered by benchmark for the world’s second biggest stock market.
Official implementation framework announced this month expands investible universe for China’s private pension scheme, allowing more products and fund managers a slice of the trillion-dollar market
China stocks fell on Wednesday, as investors were cautious amid uncertainties during the Communist Party congress, even as a raft of state-backed and large asset managers announced measures to stabilise the market. Hong Kong shares also snapped a two-day rally, while the city's leader delivered his first policy address.
China stocks closed lower on Wednesday, as investors were cautious amid uncertainties during the Communist Party Congress, even as a raft of state-backed and large asset managers announced measures.