More on China weighing stock market rescue package backed by $278 bln
This article was from late January.
- Bloomberg reported on Tuesday, citing people familiar with the matter.
- Chinese policymakers are seeking to mobilise about 2 trillion yuan ($278.53 billion), mainly from the offshore accounts of Chinese state-owned enterprises, as part of a stabilisation fund to buy shares onshore through the Hong Kong exchange link
- Bloomberg said Chinese officials have allotted at least 300 billion yuan of local funds to invest in onshore shares through China Securities Finance Corp or Central Huijin Investment Ltd. They are also weighing other options and may announce some of them as soon as this week if approved by the top leadership of the country, according to the report. The China Securities Regulatory Commission could not be immediately reached for a comment.
This liquidity appears to have taken effect. Hang Seng up 10.65% last 3 months.
What's the next target price?
More on China weighing stock market rescue package backed by...
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