China Press: No basis for continuous China stock market plunge

Dhwani Mehta FXStreet

Bloomberg reports headlines from the China Securities Journal published earlier today, citing that there is no basis for continuous China stock market plunge.

Meanwhile, the PBOC Governor Yi Gang was reported as saying that China share price drop on Tuesday was mainly emotions.

Additional Comments:

Yi is "full of confidence" …. Economic fundamentals remain sound.

"We will proactively make relevant policies, comprehensively use various monetary policy tools, maintain a reasonable and stable liquidity, grasp the strength and tempo of structural deleveraging, promote steady economic health, and prevent systemic financial risks".

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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