Chinese referee slower than the play – ANZ

By FXStreet FXStreet (Guatemala) – Analysts at ANZ explained that they are not so confident after the recent statement, “We’ll “look after” stock market investor” as vowed China’s Vice President overnight.

Key Quotes:

“A “put” on the face of it and disconcerting; when do policymakers/politicians know better than investors! You can’t have investors taking the upside, but then socialise the downside.

However, like most statements, you need to realise the context with officials citing the market as not “yet mature” (certainly true) and full of speculation. It’s a question of balancing the desire to make the market more dynamic and letting market forces prevail (a good game) with regulation (a good referee). The objectives are admirable, but hard to balance in practice, particularly when the referee can often be slower than the play.”
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Source:: FX Street