China's 'National Team' reportedly intervenes to buy stocks – reports

Dhwani Mehta FXStreet

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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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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