22 January 2019

CSRC urges blue-chips to support stock market, paper says

China’s securities watchdog called managers of blue-chip firms directly on the weekend, asking them to support the stock market and stop its downhill run, the Oriental Morning Post reported Monday, citing unnamed sources. The Shanghai Composite Index has shed 6.19 percent since November 30 when the China Securities Regulatory Commission unveiled a plan for the resumption of initial public offerings. An unnamed person from the authority said the regulator’s calls are unusual and show its anxiety about the market’s decline, the report said.

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