Stocks in China Continue to Drop; Central Government Owned Firms Told Not to sell Shares
The market volatility in China continues worrying the asset administrators who advised the forms owned by the central government not to sell shares of their own listed companies. The market going through "unusual market volatility" is witnessing the Chinese stocks plunge even though the government is introducing an array of financial measures to boost the economy.
On Wednesday, the government of the nation made further efforts to check the slide in the stock market promising more credit to finance trading, telling the companies owned by the state government to buy shares and also raised the amount of equities which the insurance companies are allowed to hold.
The key market index of China has declined thirty percent or more starting from June and to check the slide hundreds of companies the nation's companies announced a halt in the trading of their shares. From time to time the government has been introducing emergency measures and just like the previous ones, the stimulus announced last week end also failed to provide any respite from the continuous slide.
The government wants to encourage investors to buy more public stocks but investors, especially the smaller ones who witnessed their holdings drop in value over the past months say that they are not ready to buy any more.
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