Monday, 31 August 2015

Asian Market Update By MarketMagnify

Mainland equities lost 3 percent on Monday while Dow futures tanked 200 points on reports that Beijing may finally halt its controversial market intervention. 
A report by The Financial Times over the weekend said that Beijing will abandon large-scale share purchases, sparking concerns over more declines for A-shares. 
Beijing may now switch its focus from intervention to stopping those it believes are "destabilizing the market," the FT report said. Suspected state firm buying has propped up A-shares in recent sessions, resulting in two straight days of 5 percent rallies in Shanghai.
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