China Attempts to Prop Up Stock Market After Steep Declines
The overheated Shanghai and Shenzhen markets have lost 29 and 32 per cent respectively over the past three weeks following 7-year highs reached on June 12.Instead of welcoming a much needed correction, Chinese brokerages and the Bank of China agreed to prop up the market.Stimulus Short-LivedThe stimulus act has failed already. The South China Morning Post reports Chinese Shares Close […]