China, the government buys shares on the stock market to halt the declines. European rising – ANSA.it

The Chinese government, through the state-controlled funds, intervenes on the stock markets to try to restore calm after the collapse yesterday. According to reports from Bloomberg public funds they are buying stocks heavily. The stock still appear weak with Shenzen which lost 1.87% and Shanghai 0.23%. Hong Kong, still open, yields 0.54%. According to sources reported by Bloomberg addition, the supervisory authorities of the markets in Beijing have communicated verbally to the company that the ban on the sale of shares by the major investors, decided six months ago, will remain valid beyond the deadline of 8 January. The ban was introduced in July when occurred the first, premonitory, stock market crash and prevents investors who own more than 5% in a single stock to sell. The measure also applies to heads of companies and was strongly criticized by some foreign investors. Even the purchase of shares on the market by funds controlled by the state or in any way related to public property is a measure introduced in July. Some estimates of Goldman Sachs in recent months the funds have spent 236 billion dollars in stock purchases.

European shares, after a start decided, cut out slightly. Paris meeting 0.36%, Frankfurt 0.31% while keeping London with a + 0.71% while the index of area Stoxx 600 recorded a +0.50 percent. Purchases after the thud of the eve triggered by Chinese Squares, focus particularly on raw materials. In Milan the FTSE MIB gain 0.94% to 20,930 points always with the evidence of Fca (+ 3.31%) followed by Ferrari (+ 2.31%). Spread 96 points.

Scholarships Asia and Pacific reduce damage after the thud Eve with the Chinese government that has raked actions to curb the wave of sales. Listings move however weakly with Tokyo yields 0.42%, Hong Kong 0.51%, Shanghai 0.26%. Heavier Shenzhen that leaves on the ground 1.86%. “The crash on Monday has undermined investor confidence, the market is unlikely to recover soon”, said in a Bloomberg fund manager of the JK Life Insurance.

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