Chinese stock market regulators are feverishly working to stop the stock market rout. Trading was suspended for a few days in order to stabilize the market and stop the rout. It helped for a few days but bearish sentiments once again gripped the market and the rout started again. In a new effort to stop the rout, Chinese stock market regulators have now suspended the trading account of a US based hedge fund.
Citadel, a U.S.-based hedge fund, confirmed that trading in one of the accounts it manages in China has been restricted by China’s securities regulator, a company representative said on Monday.
Meet the person whom the Chinese government has put in charge of stopping the stock market rout. After China’s stocks crashed in June, the government put more than $400 billion at the disposal of a little-known state agency, the China Securities Finance Corp., headed by an academic and bureaucrat named Nie Qingping. It was told to save the market.