Quantitative hedge funds are seen to have amplified the recent selloff, and authorities have banned some of them from placing sell orders completely along with other measures, Bloomberg reported late Monday.
The president s latest remarks come as China s trade slumped in recent months as weaker demand threatens recovery prospects in the world s second-largest economy, prompting top leaders to introduce further policy support.
China s factory activity expanded at the slowest pace in seven months at the start of 2021, weighed down by falling export orders amid a surging global pandemic and rising costs, a business survey showed on Monday. The slowdown in the manufacturing sector underscores the fragility of the ongoing economic recovery in China, as Beijing grapples with a resurgence of local Covid-19 cases in northern China and navigates rising tensions with Washington and its allies.
Asian shares slip for 5th straight session, silver gets retail boost The Caixin/Markit Manufacturing Purchasing Managers Index (PMI) dropped to 51.5 last month, the lowest level since June last year and easing markedly from December s reading of 53.0. The 50-mark separates growth from contraction on a monthly basis.