Chinese equities opened higher on Tuesday, buoyed by signs of official support despite ongoing U.S.-China trade tensions. State-owned investment firms have stepped up purchases of A-shares via exchange-traded funds to help stabilise the market.
The People’s Bank of China reaffirmed its backing for Central Huijin—a unit of sovereign wealth fund China Investment Corporation—vowing to support the firm as needed to “resolutely maintain the smooth functioning of the capital market.”
More:
- China’s Huijin vows to act as market stabiliser, boost long-term share buying
- PBoC says it will provide lending support to China state fund Huijin if needed
- Chinese state firms pledge support for markets amid tariff-driven selloff
SSE up 0.6% … its not running away is it?
This article was written by Eamonn Sheridan at www.forexlive.com.
