I had the news earlier on authorities in China urging institutions not to offload equities:
China’s sovereign wealth fund China Investment Corp said it'll help with risk mitigation and market stabilization in 2024 in comments on its annual work meeting. Central Huijin Investment Ltd.operates under CIC and it'll coordinate actions to support equities.
Back in 2013 and 2015 Huijin’s purchases of ETFs were prior to gains of more than 20% in Shanghai stock indexes within three months.
Info comes via Bloomberg (gated)
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Still red in China today:
