BEIJING: China’s state media sought to soothe investor nerves amid a stock rout that has pushed the nation’s benchmark equity index to the brink of a bear market, stressing there was no onshore systemic risk.
The effort to talk the market up comes after investors dumped stocks in the crosshairs of Bejing’s sweeping regulatory crackdowns on Monday and Tuesday in a wave of selling that saw nearly $1.5 trillion of market value wiped off Hong Kong and mainland shares since last Thursday, according to Bloomberg-compiled data.