Market regulator talks to banks to calm jitters

The online meeting adds to official efforts to shore up investor confidence in Chinese markets, which has been dented by sweeping regulatory actions that involved firms in the US$120bil (RM506.72bil) private tutoring sector and technology behemoths.

HONG KONG: China’s securities regulator has held a meeting with executives of top global investment banks with an aim to calm financial markets nerves, sources told Reuters.

The online meeting adds to official efforts to shore up investor confidence in Chinese markets, which has been dented by sweeping regulatory actions that involved firms in the US$120bil (RM506.72bil) private tutoring sector and technology behemoths.

“This is more to calm the market to isolate the education industry and not to over interpret it,” said a source, who has knowledge of the meeting held by China Securities Regulatory Com-mission (CSRC) vice-chairman Fang Xinghai.