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U.S. govt. isn't the only one to manipulate markets
China's 'National Team' Buys Shares Worth $9 Billion to Prop Up Market
By William Sandlund
Financial Times, London
Monday, July 20, 2026
China's "national team" of funds has bought close to $9 billion in equities as Beijing seeks to support the stock market following a bruising sell-off on Friday.
Funds associated with the central government announced they had purchased nearly Rmb60 billion ($8.9 billion) worth of stocks late on Sunday, helping boost Chinese indices on Monday even as other Asian markets dropped.
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China's benchmark CSI 300 rose 1.5% and Hong Kong's Hang Seng index jumped 2.4%, while Japan's Nikkei 225 and South Korea's Kospi both fell more than 4%.
Global equity markets suffered sharp declines last week, sparked by heavy selling of AI chipmaker stocks. The CSI 300 fell 3.6% on Friday, its worst single-day drop since the market ructions caused by U.S. President Donald Trump's "liberation day" tariff announcements.
"The government wants to maintain stability, they don't want to see crazy ups and downs," said Wei Li, head of China multi-asset investments at BNP Paribas. "When the market starts to go down [in China], it can go down very deep." ...
... For the remainder of the report:
https://www.ft.com/content/e6e3acd7-81a2-471c-9be1-a7f7558d639b
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