guno
Gold Member
- Banned
- #1
What will this mean for the United States
On Saturday, China's 21 largest brokerage firms said they would spend a whopping 120 billion yuan (about $19.3 billion) to try to stabilize the market, according to Chinese state media. The firms will actually buy stock funds themselves.
The goal is to show regular mom and pop investors that the big players still think buying stocks is a good idea. It's a similar strategy to companies buying back their stock when they think it's undervalued.
China spends billions to prevent stock market crash - Jul. 4 2015
On Saturday, China's 21 largest brokerage firms said they would spend a whopping 120 billion yuan (about $19.3 billion) to try to stabilize the market, according to Chinese state media. The firms will actually buy stock funds themselves.
The goal is to show regular mom and pop investors that the big players still think buying stocks is a good idea. It's a similar strategy to companies buying back their stock when they think it's undervalued.
China spends billions to prevent stock market crash - Jul. 4 2015