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China Stocks Sink Deeper Into Bear Market Despite State Buying

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China Stocks Sink Deeper Into Bear Market Despite State Buying Chinese stocks slid deeper into a bear market as rescue efforts by state-backed funds fail to rebuild investor confidence. The onshore benchmark CSI 300 Index fell as much as 1.6% on Friday, taking the week’s losses to nearly 5%, the most in three months. The decline comes after the gauge dropped 20% from its June high on Thursday, entering a bear market.

China Stocks Sink Deeper Into Bear Market Despite State Buying Chinese stocks slid deeper into a bear market as rescue efforts by state-backed funds fail to rebuild investor confidence. The onshore benchmark CSI 300 Index fell as much as 1.6% on Friday, taking the week’s losses to nearly 5%, the most in three months. The decline comes after the gauge dropped 20% from its June high on Thursday, entering a bear market. It has fallen through a closely watched level of 4,000.
China (LOCATION) Chinese (ORG) CSI (ORG)
Originally published by Bloomberg Markets Read original →