China’s $22 Billion Injection May Help Ease Global Market Rout
- Beijing’s measures could cushion blow of coronavirus this week
- ‘This is well beyond the band-aid fix,’ Axicorp’s Innes says
Photographer: Lam Yik Fei/Getty Images
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A $22 billion injection into Chinese markets won’t be enough to prevent the country’s stocks and currency falling on Monday, but it may ease a global sell-off sparked by the spread of the coronavirus.
That’s according to analysts after the People’s Bank of China and other regulators announced a slew of measures to shore up their financial markets when they re-open following the Lunar New Year holiday.