China Market Moves Spurred by Concerns Over Broader Damage
China Stocks See Best Two-Day Gain in Seven Years
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As China’s stock market plunged in recent weeks, Communist Party leaders moved quickly to intervene. What were they so afraid of?
Government moves included a halt in initial-public offerings, setting up a stock-buying fund of $19.3 billion and a ban on state-owned companies selling shares of listed units. Even the Public Security Ministry got involved: it’s now probing cases of what it called “malicious” short selling.