China Stock Rescue May Need More State Buying to Work, BI Says

China Stock Rescue May Need More State Buying to Work, Bloomberg Intelligence Says China’s national team may need to accelerate stock purchases after the benchmark notched a record losing streak, though state-backed buying alone may not be enough to put the market on a sustained recovery, according to Bloomberg Intelligence. Central Huijin Investment Co., the state-backed investor that leads China’s market stabilization efforts, raised $231 billion through ETF sales in the first half but has redeployed just $43 billion since purchases resumed in July, BI analysts including Rebecca Sin wrote in a note. That leaves about $188 billion in dry powder, enough for 75 sessions of buying at the recent pace.