China shares gyrate as Beijing scrambles to calm markets
Chinese shares whip-sawed between gains and losses on Tuesday, as Beijing scrambled once again to prop up a stock market whose wild gyrations have heightened fears about the financial stability of the world’s second biggest economy.
After a plunge of more than 8 percent in major indexes on Monday, Chinese regulators said they were prepared to buy shares to stabilize the stock market, while the central bank injected cash into money markets and hinted at further monetary easing.
A tug-of-war morning trading session ended with the CSI300 index .CSI300 of the largest listed companies in Shanghai and Shenzhen down 0.2 percent at the midday break, while the Shanghai Composite Index .SSEC was 1 percent lower. Read More