China Stocks Rally on Quant Fund Clampdown, Property Support
From bnnbloomberg.ca
Chinese stocks rallied as authorities clamped down on trading by quant funds, adding to a series of recent support measures to end the market rout. The Hang Seng China Enterprises Index gained as much as 3.5% to its highest in seven weeks. Property developers were among the biggest gainers after state media reported that banks have approved 123.6 billion yuan ($17 billion) of loans for property projects on the so-called white list since January. Authorities have redoubled their efforts to rescue the stock market in recent weeks, including further purchases by state funds, while an unexpectedly large cut to a mortgage ...
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