Posted 1/23/2024, 7:39:55 PM
China Mulls $222 Billion Stock Market Rescue as Share Prices Plunge 20%
- Chinese authorities considering emergency intervention to halt sliding share prices and boost investor confidence
- Measures could include unlocking $222 billion from state accounts to buy shares to prop up market
- Stock markets have plunged recently, with benchmark index down 20% in last 9 months
- Slump comes despite repeated interventions by Beijing to try to boost market
- Questions remain about long-term health of market given broader economic issues like property downturn, deflation, weak private sector demand