Chinese officials continue to make moves that highlight an eagerness to boost equity markets. The latest is from the Chinese Commerce Ministry:
- Adjusts lookup period for foreign investors to 12 months from 3 years
- Will allow foreign investors to carry out strategic investment in the form of tender offers
- Lowest asset requirements for foreign investors who are not controlling shareholders
- To allow foreign investors to carry out strategic investments in listed companies
I don't think these move the needle on stocks but they're part of a bigger package that points to Beijing's determination to boost stock markets.
If you look at the MCHI ETF, it's been dangerously consolidating after the big spike last month.
MCHI ETF daily