Markets wobble as China’s growth target fails to impress

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“With Beijing remaining reluctant to provide a much stronger stimulus, we struggle to see how the ongoing deflationary spiral could be effectively reversed,” he added. The government measures – reducing short-selling availability, increasing equity purchases by government-owned funds, and replacing the chairman of the China Securities Regulatory Commission – followed a mass sell-off in Chinese equities over the past 12 months as sentiment soured following the lacklustre economic recovery from the pandemic. Bloomberg estimated that about US$7 trillion ($10.7 trillion) had been erased from Chinese and Hong Kong-listed stocks since the markets peaked in 2021, forcing some Australian funds exposed...