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.
Chinese regulators have implemented a series of support measures aimed at stabilizing struggling stock markets in the world's second-largest economy. The measures include conducting swap operations, upgrading a lending facility for stock buybacks, and encouraging index heavyweights and tech firms to stabilize share prices. These actions come after the benchmark CSI300 Index dropped 8.5% in October, marking its worst month since early 2016.
The central bank and securities watchdog announced these measures on Monday, following persistent weakness in the economy due to sluggish consumption, a property sector debt crisis, and sharp falls in tech stocks which have contributed to investor concerns.
Written by urgent.news from CNA - Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- China rolls out support measures to aid struggling stocks channelnewsasia.com
- China rolls out support measures to aid struggling stocks straitstimes.com
