While most Asian markets plunged Thursday, Chinese stocks showed remarkable resilience as state-backed institutions intervened to stem losses. The CSI 300 index edged up 0.3% even as regional peers fell sharply, highlighting Beijing’s determination to maintain market stability ahead of key economic meetings.
Key Observations:
- “National team” buyers targeted financial and energy stocks
- Tech shares still fell but with smaller losses than regional peers
- Property developers gained on rumors of stimulus measures
- Trading volume surged 40% above 30-day average
“This is textbook China market management – they’re drawing a line in the sand at 3,200 for the CSI 300,” said a UBS strategist. The stability comes despite worsening economic data, suggesting policymakers are prioritizing financial market confidence.
