Comment on China freezes new share offers in bid to shore up plunging stock markets

China freezes new share offers in bid to shore up plunging stock markets

Beijing has also set up a market-stabilisation fund, according to reports, as fund managers pledge to invest $19bn in the local share marketChina has frozen share offers and set up a market-stabilisation fund, according to reports, as Beijing intensified efforts to pull stock markets out of a nose-dive that is threatening the world’s second-largest economy.The Wall Street Journal report that Beijing has suspended initial public offerings (IPOs) came a few hours after major brokers and fund managers collectively pledged to invest at least $19bn of their own money into stocks.

 

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