Chinese equities rebound on hopes of support from Beijing
Regulators release a series of announcements in a bid to stabilise markets
Chinese equities staged a rebound on Tuesday as state funds vowed to step up share purchases, spurring investor hopes that Beijing might be ready to offer more support to put a floor under months of sliding prices.
Shares began climbing after Central Huijin, an investment arm of China’s sovereign wealth fund, said it would expand its purchases of exchange traded funds.
The China Securities Regulatory Commission also said it would encourage institutional investors to hold A-shares for a longer period of time, as it worked to stabilise a sell-off that has wiped out almost $2tn in market capitalisation from a 2021 peak.