Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • PM Modi in Manipur
  • Charlie Kirk killer
  • Sushila Karki
  • IND vs PAK
  • India-US ties
  • New human organ
  • Downton Abbey: The Grand Finale Movie Review
fp-logo
Chinese state investment fund to expand share holdings to aid sagging markets
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
  • Home
  • World
  • Chinese state investment fund to expand share holdings to aid sagging markets

Chinese state investment fund to expand share holdings to aid sagging markets

FP Staff • February 6, 2024, 13:28:45 IST
Whatsapp Facebook Twitter

The move followed warnings by the market regulator of a crackdown on market manipulation, insider trading and other abuses and promises to protect smaller investors who usually account for the majority of trading in Chinese markets.

Advertisement
Subscribe Join Us
Add as a preferred source on Google
Prefer
Firstpost
On
Google
Chinese state investment fund to expand share holdings to aid sagging markets

A Chinese state investment fund has pledged to increase its purchases of stock index funds to bolster markets, which have been under strain due to a property crisis and a slowing economy. Shares logged moderate gains on Tuesday after the announcement by Central Huijin Investment, a Chinese sovereign fund that owns China’s state-run banks and other big government-controlled enterprises. The fund has intensified its buying of shares in large state-owned banks and other companies to counteract the heavy selling pressure in Chinese markets. On Monday, both the Shanghai and Shenzhen benchmarks experienced fluctuations between minor gains and significant losses, while share prices of state-owned banks and other major companies saw increases. The move followed warnings by the market regulator of a crackdown on market manipulation, insider trading and other abuses and promises to protect smaller investors who usually account for the majority of trading in Chinese markets. The market watchdog, the China Securities Regulatory Commission, welcomed the announcement, saying that share prices at a historically low level highlight their medium and long-term investment value. We firmly support Central Huijin to continue to increase the scale and intensity of its holdings, and will create more convenient conditions and smoother channels for its market entry operations, it said in a statement. It promised to make every effort to maintain the stable operation of the market. It said it also would facilitate share purchases by institutional investors such as public funds, private equity funds, securities companies, social security funds, insurance institutions, and annuity funds and encourage companies to increase share repurchases. It was unclear if the moves will suffice to turn the tide that has taken the markets to five-year lows despite a flurry of moves to instill confidence and support property developers whose financial woes after the government cracked down on excessive borrowing have been a major drag on the economy. By midday Tuesday, the Shanghai Composite index was up 0.8% and Hong Kong’s Hang Seng had jumped 2.5%. The Shenzhen A-Share index was 1.2% higher. The biggest gains in Hong Kong were in technology shares like e-commerce giants Alibaba, which surged 6.8%, and JD.com, which added 5.1%. With inputs from Reuters.

Tags
equity markets Stock Markets Chinese state fund share holdings
End of Article
Latest News
Find us on YouTube
Subscribe
End of Article

Impact Shorts

‘The cries of this widow will echo’: In first public remarks, Erika Kirk warns Charlie’s killers they’ve ‘unleashed a fire’

‘The cries of this widow will echo’: In first public remarks, Erika Kirk warns Charlie’s killers they’ve ‘unleashed a fire’

Erika Kirk delivered an emotional speech from her late husband's studio, addressing President Trump directly. She urged people to join a church and keep Charlie Kirk's mission alive, despite technical interruptions. Erika vowed to continue Charlie's campus tours and podcast, promising his mission will not end.

More Impact Shorts

Top Stories

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Top Shows

Vantage Firstpost America Firstpost Africa First Sports

QUICK LINKS

  • Trump-Zelenskyy meeting
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV