China's 'National Team' is doing everything in its power to stop stocks crashing — here’s the playbook
|01/05/2016||Posted by BusinessMediaguide.Com under General World News||
The Chinese government is buying up shares to prop up its stock markets, repeating a tactic used during last year’s meltdown.
The so-called “National Team” is injecting cash into the market after Monday’s 7% crash, according to a report by Bloomberg News.
The government is also preparing to extend a ban on short selling – where investors borrow stocks and sell them, pocketing a profit if the price falls – in an effort to keep the stock market bouyant.
The sell-off on Monday saw about $590 billion wiped from Chinese shares, according to the Bloomberg report.
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Source : BusinessInsider.Com