China's 'National Team' reportedly intervenes to buy stocks – reports
|Some chatter is doing the rounds among the traders’ circle that the Chinese government – the so-called "National Team" is reportedly intervening to buy shares to prop up the domestic stock markets.
The reports are not yet confirmed, although the benchmark Shanghai Composite Index has flipped to gains on the above news, now trading at 3,370 levels.
This comes as the concerns over tighter monetary policy replace optimism about the economic recovery. The Chinese stocks have lost nearly 15% of their value after climbing to more than a decade high last month.
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