Sources: Some of China's fund managers, brokers called by regulators to help stabilize stock market – Reuters
|During Tuesday’s Asian session, Reuters came out with the news quoting anonymous source saying, “Some of China's fund managers, brokers called by regulators to help stabilize stock market ahead of the 20th party congress.”
The two sources also mentioned that regulators ask financial institutions to avoid trading activities that may cause big fluctuations in the securities market.
The instructions were give through the so-called "window guidance", with no written documents, one of the sources said per Reuters.
Market reaction
The news fails to witness any major reaction from the markets as the consolidation move continues. USD/CNH, however, hesitates in extending the pullback from two-year high.
Also read: USD/CNH struggles to cheer softer DXY above 7.0000 on pessimism surrounding China
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.