Monetary noise from Beijing: Little support for equities - yet

CHINA ADVISORY - Report 26 Oct 2018 by Andrew Collier

Chinese equities ended the week higher after senior Chinese officials expressed support for the markets. The comments by officials in the central bank and the central economic leadership were interpreted as indications of a support for stocks. However, the comments focused more on the fundamental economy than on the tradable markets. This is sharply different from the 2013 stock market boom and bust, when Beijing quickly stepped in with a financial injection. This could be a significant, less interventionist, tone to the policy out of Beijing.

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