The story appears on

Page A2

July 29, 2021

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business

Newspapers call for calm as shares crash

A CHINESE state-owned securities newspaper urged calm yesterday after investors dumped mainland shares for a second day on worries over the impact of tighter government regulations.

Regulatory moves aimed at the education, property and technology sectors sparked heavy selling this week in Chinese markets.

In a front page commentary yesterday, the Securities Times said that systemic risks “do not exist in the A-share market overall.”

“The macroeconomy is still in a steady rebound stage, and short-term fluctuations do not change the long-term positive outlook for A-shares,” the commentary said. “The recent market decline to some extent reflects misinterpretation of policies and a venting of emotion. Economic fundamentals have not changed and the market will stabilize at any moment.”

Other major securities dailies echoed the commentary in market reports.

In a front page story citing domestic fund managers, the China Securities Journal said the sell-off was a “structural adjustment,” a sustained plunge is unlikely and the market does not face systemic risk. The Shanghai Securities News quoted analysts as saying that the sell-off would not continue, and that the market will gradually stabilize.

“For institutions, the decline brings the opportunity for positioning in high-quality shares,” it said.




 

Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend