4 days ago
China's ‘National Team' Perfects the Art of Dip Buying
The stock market is not the economy. This year, other factors, such as retail participation in the US and corporate governance reform in South Korea, are pushing markets to tease record highs despite aweak economic reality.
In China, a key catalyst is the involvement of the so-called ' national team,' a group of institutional investors that buys index funds to stem market routs. The main players include Central Huijin Investment Ltd., a domestic unit of the sovereign fund China Investment Corp., China Securities Finance Corp. and the Social Security Fund.
