China Ramps Up Stock Market Interventions as Top ETF Assets Surge
• China's state funds seen intervening more in stocks after jump in top ETF assets • Net assets of top 5 ETFs tracking China benchmarks surged to $79.2B on Feb 9 • Sharp inflows seen as sign of heightened market intervention by "national team" • State support yet to overturn major stock losses; CSI 300 still below 2023 start • China wary of negative loop between investor sentiment and economy taking action