China’s “national team” injected $9 billion into the stock market after a selloff



China’s state funds announced purchases of shares worth about $9 billion to support the stock market after a sharp drop driven by a selloff in the technology and AI sector last week.

The intervention by the so-called “national team” — a group of state-affiliated investment funds — aims to stabilize quotes amid heightened volatility. Beijing has used similar practices during periods of market stress to prevent panic selling.

The scale of the intervention reflects the seriousness of the correction: the tech sector has been under pressure amid a global reassessment of the prospects for AI companies. For foreign investors, it’s a sign that authorities are willing to keep the market from plunging, but administrative support does not eliminate underlying fundamental risks.
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