The selling is about over for China’s slumping stocks, argues Yi Gang, deputy governor of the People’s Bank of China. Gang said at an annual meeting of the International Monetary Fund that his country’s stock-market correction is “almost over,” according to media reports on Sunday and Monday. However, a Wall Street Journal report over the weekend said that six weeks after the Chinese stock market hit a floor following a sustained selloff, Beijing can claim credit for halting the decline, but not much else. The Chinese government is now left with a market in the doldrums, the Journal report said. Chinese shares surged Monday.
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From:: Stock Market News