China freezes new share offers in bid to shore up plunging stock markets | Business | The Guardian:
"China has frozen share offers and set up a market-stabilisation fund, according to reports, as Beijing intensified efforts to pull stock markets out of a nose-dive that is threatening the world’s second-largest economy.
The Wall Street Journal report that Beijing has suspended initial public offerings (IPOs) came a few hours after major brokers and fund managers collectively pledged to invest at least $19bn of their own money into stocks.
China’s government, regulators and financial institutions are now waging a concerted campaign to prop up the nation’s two main share markets, amid fears that a meltdown would rock the financial system and inflict heavy losses across an economy where annual growth is already running at a 24-year low."
'via Blog this'
No comments:
Post a Comment