Guoxin and Chengtong propped up the market on Friday. This week should see a rebound, but how strong it will be is hard to say:

As A-shares adjust, the “state-backed teams” stepped in to support the market. On the evening of July 19, China Guoxin announced that it has used special loans and supporting funds for stock buybacks and increased holdings totaling more than 50 billion yuan to maintain market stability. China Chengtong said that, recently, it has cumulatively bought nearly 10 billion yuan worth of Chinese stock assets. Both China Guoxin and China Chengtong said that they will continue to do their utmost to ensure the smooth operation of the capital markets.