China set to withdraw support for China stock markets – unconfirmed report

By FXStreet FXStreet (Bali) – Unconfirmed reports out of China suggest the government is set to withdraw support for China stock markets, with officials mooted on the matter so far.

Key Quotes from futures broker in China

“Although not generally reported by news wire services, one of the Australian brokers issued an overnight note suggesting the Chinese government is going to pull out of supporting the stock market.”

“The suggestion does sit well with the sharp afternoon selloff in China and it has been mooted by Government officials recently.”
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Source:: FX Street