Public funds in China prepare measures to stabilize the stock market

China seeks support from "national team"

The Bloomberg report says China has called on its public investors to prepare to stabilize the stock market, if necessary, today. In the current state of affairs, it is unclear whether the public funds have already taken action, but the fact that the Shanghai Composite index is still down more than 5% after the break and is headed to his biggest dive in seven months is not a good sign:

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It is not uncommon for there to be this form of market intervention in China, so beware of this in the afternoon trade, as we are approaching the fence later. Bloomberg also notes that at least one major Chinese bank offers the dollar against the yuan in order to limit the depreciation of the latter today.