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Chinese state media moves to calm markets after rout | Daily Express Online
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Asian markets mostly down on China worries after Wall St drop
Issued on:
28/07/2021 - 05:32 Investors have been rattled by China s latest crackdown on various industries, with concerns about what other sectors are in the firing line MOHD RASFAN AFP 4 min
Hong Kong (AFP)
Asian markets mostly sank again Wednesday as fears over China s regulatory crackdown continued to reverberate around trading floors, while analysts said companies might struggle to maintain their recent run of blockbuster earnings results that have sent valuations soaring.
Hong Kong and Shanghai were in focus after suffering a diabolical previous three days in the wake of Beijing unveiling a series of measures aimed at curbing a range of industries including tech and private tuition that have raised fears of further action.
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“The macroeconomy is still in a steady rebound stage, and short-term fluctuations do not change the long-term positive outlook for A-shares,” the commentary said.
“The recent market decline to some extent reflects misinterpretation of policies and a venting of emotion. Economic fundamentals have not changed and the market will stabilize at any moment.”
Other major securities dailies echoed the commentary in market reports.
In a front page story citing domestic fund managers, the official China Securities Journal said the sell-off was a “structural adjustment,” a sustained plunge is unlikely and the market does not face systemic risk.
A story in the state-run Shanghai Securities News quoted domestic analysts as saying that the sell-off would not continue, and that the market will gradually stabilize.
China state-owned daily urges calm after market rout
07/28/2021 2:11
SHANGHAI (Reuters) - A Chinese state-owned securities newspaper urged calm on Wednesday after investors dumped mainland shares for a second day on worries over the impact of tighter government regulations.
Regulatory moves aimed at the education, property and technology sectors sparked heavy selling this week in Chinese markets, and have left global investors bruised and uncertain over the outlook for investments in Chinese firms.
In a front page commentary on Wednesday, the state-owned Securities Times said that systemic risks do not exist in the A-share market overall. The macroeconomy is still in a steady rebound stage, and short-term fluctuations do not change the long-term positive outlook for A-shares, the commentary said.
China state media seeks to calm investor nerves after stock rout
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