Bloomberg quoted people familiar with the matter and revealed that the relevant Chinese departments guided some investment funds this week to avoid net sales as much as possible.
People familiar with the matter said that the exchanges conduct window guidance to several large public fund companies, requiring not to sell stocks as much as possible.People familiar with the matter also said that these instructions were conveyed to the fund manager through the company's investment supervisor.
According to Bloomberg, Chinese officials usually take such window guidance operations to stabilize the market.At present, China's economic growth has slowed down, and trust products have been overdue.The People's Bank of China accidentally cut interest rates on Tuesday (August 15), and the market sentiment has rarely boosted. The outside world will increase the government's speculation on the government's launch of more support measures.
People familiar with the matter said that China sent similar guidance to investment companies last year.
The Shanghai and Shenzhen 300 Index has fallen seven days in the past eight trading days, and it fell 2.3%last Friday (August 11), the largest single -day decline since October last year.The prospects of the default of Country Garden of China's headlords have exacerbated the risk spread.
Reported that past experience shows that this window guidance has little role in boosting the market.In September last year, China ’s regulatory layer guided some brokerage fund companies to avoid large net sales, but the CSI 300 Index fell about 10%in the following weeks, which has reached the lowest level in more than three years.
