China Seeks to Boost Stock Market as Xi Speech Disappoints
- CSRC looking to ease restrictions on short-term stock deals
- Market sentiment hurt by Covid lockdowns, souring geopolitics
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Chinese regulators are ramping up efforts to support the stock market, which saw little reprieve from President Xi Jinping’s speech amid continued pressure from geopolitical tensions and the Covid Zero policy.
A series of market-supporting measures are in the pipeline, including proposals to encourage companies to buy back shares and to ease curbs on short-term transactions by overseas mutual funds. In a sign that private firms are heeding the government’s efforts, at least eight mutual funds announced plans on Monday to invest in their own equity products.