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Citadel Securities, led by CEO Peng Zhao, has submitted an application to the China Securities Regulatory Commission to establish a brokerage in mainland China. The move comes as many Wall Street firms find it challenging to navigate the country's markets.
By the end of last year, 866 qualified foreign institutional investors (QFII) obtained investment qualification in the A-share market. Foreign investors held about 3 trillion yuan ($410 billion) of A shares via QFII and stock connect programs, serving as an important source of capital inflow into the Chinese stock market, Wu said.
State-owned insurers and mutual funds are expected to play a pivotal role in the process, the China Securities Regulatory Commission and the Ministry of Finance said in a press briefing.
China announced plans on Thursday to channel hundreds of billions of yuan of investment from state-owned insurers into shares as part of the government's latest efforts to support a struggling stock market.
China on Thursday detailed measures to encourage state-owned funds and insurers to buy more shares, aimed at stabilizing the struggling stock market at a time when U.S. President Donald Trump is preparing to announce tariffs on Chinese imports.
BANGKOK (AP) — World shares were mixed on Thursday after China rolled out more moves to try to boost its lagging stock markets by raising confidence that prices will rise. Germany's DAX gained 0.2% to 21,300 and the CAC 40 in Paris edged 0.1% higher to 7,847.38. Britain's FTSE 100 slipped less than 0.1% to 8,539.88.
Citadel has been participating in China’s so-called A-share market from Hong Kong, where it trades cash equities, futures, options and exchange-traded funds. It has an office in Shanghai with a small team supporting the firm’s offshore China business.
Gold hovered near record highs in Asian trade as the dollar weakened on Trump's call for immediate interest rate cuts by the U.S. Federal Reserve.
China's financial regulators are channelling pension and insurance funds into the nation's equities to establish medium and long-term holdings and stabilise Asia's largest capital market. Starting this year,
Asian shares were mixed on Thursday after China rolled out more moves to try to boost its lagging stock markets by raising confidence that prices will rise. Officials in Beijing
China is guiding local mutual funds and insurers to boost their stock purchases in the government’s latest initiative to shore up its ailing equity market as it confronts the threat of higher tariffs.