ICYMI – China's sovereign wealth fund bought ETFs to prop up puking stock market

<p>China’s state fund Central Huijin Investment said late on Monday it had bought exchange-traded funds (ETFs)</p><ul><li>and it would continue to do so</li></ul><p>Just under two weeks ago the fund started increasing its controlling stakes in China’s “Big Four” state banks</p><ul><li><a href="https://www.forexlive.com/centralbank/chinas-us135-trillion-sovereign-fund-boosts-stake-in-big-four-banks-cny-intervention-20231013/" target="_blank" rel="follow" data-article-link="true">China’s US$1.35 trillion sovereign fund boosts stake in Big Four banks (CNY intervention?)</a></li></ul><p>The buying came as Chinese shares puked again, this from Monday</p><ul><li><a href="https://www.forexlive.com/news/chinas-csi300-benchmark-blue-chip-index-has-hit-its-lowest-since-february-2019-20231023/" target="_blank" rel="follow" data-article-link="true">China's CSI300 benchmark blue chip index has hit its lowest since February 2019</a></li></ul><p>And its not just equities being shunned:</p><ul><li><a href="https://www.forexlive.com/news/goldman-sachs-says-fx-outflows-from-china-in-september-hit-us75-bln-biggest-since-2016-20231023/" target="_blank" rel="follow" data-article-link="true">Goldman Sachs says FX outflows from China in September hit US$75 bln, biggest since 2016</a></li></ul><p>China is having a rough time right now. The Chinese Communist Party war on private enterprise is not helping. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.