Jul
07
China Central Bank Pledges Liquidity Support to Stock Market
ByChina’s central bank will provide “ample liquidity” to aid the nation’s plunging stock market, it said in a statement on its website Wednesday.
The People’s Bank of China published the statement minutes after the Shanghai Composite Index fell as much as 8.2 percent at the open. The index pared losses after the announcement, trading 4 percent lower at 10:14 a.m. local time.
The central bank will “actively assist China Securities Finance Co. to obtain ample liquidity,” through channels including loans and bonds, according to the statement. The PBOC will pay close attention to market moves and do whatever it can to prevent systemic risks, it said…
China Central Bank Pledges Liquidity Support to Stock Market
