- The stage is set for another turbulent week of Chinese trading after Beijing announced unprecedented steps to prevent a full-blown stock market crash.
- On Saturday, the country's biggest brokerage firms unveiled a government-endorsed plan to buy at least 120B yuan ($19.3B) of shares, stating they would not sell the holdings as long as the Shanghai Composite Index was below 4,500.
- China also suspended IPOs until further notice even for companies that already had provisional approval to list their shares.
- Previously: The Chinese bear keeps growling (Jul. 03 2015)
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