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On February 3, 2020, a man wearing a mask is walking near the Shanghai Securities Factory in Pudong Financial District, Shanghai, China. (Aly Song / Reuters)
Shanghai — China’s state securities newspaper urged investors to settle on Wednesday after dumping mainland stocks on the second day, fearing the impact of tightening government regulations.
Regulatory measures targeting the education, real estate and tech sectors have caused massive sales in the Chinese market this week, damaging the outlook for investment in Chinese companies and leaving global investors uncertain.
To alleviate investor anxiety, a commentary on the July 28 top page of the State Securities Times said it downplayed systemic risk and said that the impact of fluctuations would be minimal.
Other major securities dailies reflect commentary on market reports.
What started as a sale of stocks on July 26, spread to bond and foreign exchange markets by the afternoon of July 27, the yuan fell below psychologically important levels, boosting Chinese government bond yields, The cost of insurance against defaults is higher than the Chinese administration’s dollar debt.
Andrew Galbraith
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