China Rolls Out Support Measures to Aid Struggling Stocks
- On Monday, the People's Bank of China , the China Securities Regulatory Commission , and the National Financial Regulatory Administration convened banks to discuss measures bolstering the stock market.
- The benchmark CSI300 Index slumped 8.5% in October, marking its worst monthly performance since early 2016 amid heightened concerns over market stability.
- Regulators are optimizing a lending facility for share buybacks and stake increases, as a growing number of listed companies announced buyback plans over the past month.
- These measures could "drive a market rebound towards the year-end," Shanghai QiuYang Capital fund manager Huang Yan said, though he cautioned a policy bottom may not signal a market bottom.
- Investors are monitoring debt issues at state-owned developer Zhuhai Huafa Group, which triggered risk aversion and a roughly 0.5% one-day loss in credit bond funds on October 30.
33 Articles
33 Articles
The Chinese government has unveiled a massive market stimulus package in response to the recent sharp decline in the stock market. It has decided to expand low-interest financing to encourage listed companies to buy back their own shares and to provide additional liquidity to institutional investors. It is also considering easing regulations on margin trading. These measures are interpreted as an attempt to defend against further stock price dec…
Channel News Asia
China rolls out support measures to aid struggling stocks
Persistent weakness in the world's second-largest economy, reeling from sluggish consumption and a prolonged property sector debt crisis, and sharp falls in tech stocks have hit investor confidence.
The Economic Times
Times of IndiaChina stocks edge higher as reports of market support lift sentiment
Chinas stock market edged higher after reports that regulators would discuss measures to support capital markets. However, concerns over state-backed Zhuhai Huafa Groups liquidity continued to weigh on related stocks and bond funds.
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