Authorities could use 2tn yuan from offshore accounts of state firms to buy shares after big falls in stocks
Chinese markets have lifted following a report suggesting that Beijing policymakers are scrambling to mobilise billions of dollars from state-owned enterprises to reverse a recent share rout.
The benchmark CSI 300 index, which replicates the top 300 stocks traded on the Shanghai and the Shenzhen bourses, had fallen to a five-year low, while the Hang Seng China Enterprises Index, which tracks Chinese stocks traded in Hong Kong, had dropped to to its lowest in nearly two decades.
Continue reading…Authorities could use 2tn yuan from offshore accounts of state firms to buy shares after big falls in stocksChinese markets have lifted following a report suggesting that Beijing policymakers are scrambling to mobilise billions of dollars from state-owned enterprises to reverse a recent share rout.The benchmark CSI 300 index, which replicates the top 300 stocks traded on the Shanghai and the Shenzhen bourses, had fallen to a five-year low, while the Hang Seng China Enterprises Index, which tracks Chinese stocks traded in Hong Kong, had dropped to to its lowest in nearly two decades. Continue reading…
