Why China’s onshore stocks have weathered global turmoil and volatility

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Why China’s onshore stocks have weathered global turmoil and volatility - SCMP

Quick Summary:

State-backed buying of nearly 160 billion yuan worth of ETFs and solid economic data have underpinned market sentiment, analysts say.

A unit of China’s sovereign wealth fund and state-backed investment vehicles, which collectively manage US$1.3 trillion worth of assets, and listed companies have bought stocks this month, bringing a sense of calm to the US$10 trillion onshore market, the world’s second largest.

In terms of volatility, the CSI 300 has been the least choppy, gyrating 10 per cent this month.