Remarks from China quant fund manager Lingjun Investment:
- Holds long-term bullish views on China stocks and will stick to long position
- Will improve models to make trading smooth and balanced
- Will maintain normal market order and protect investor interest
There seem to be two factors at play here
1. He is talking his book
2. It sounds like he is reading from a script provided by Chinese authorities keen to prop up stocks
Also, the fund dumped shares worth circa 2.6 bn yuan within one minute on Monday. This caught the attention of the China Securities Regulatory Commission (CSRC) and the Public Security Department. The Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE) have suspended the accounts of Lingjun from trading for 3 days.
Perhaps I am being too cynical, mainland stocks are well off their recent lows.
