Chinese banker “The government must rescue the market, not with empty words, but with real silver and gold”

SHANGHAI (Reuters) – Chinese stocks tumbled again on Friday, taking the week’s losses to more than 10 percent, as the securities regulator said it was investigating suspected market manipulation and announced a slew of measures aimed at heading off a full-blown crash.

After a slump of nearly 30 percent in Chinese stocks since mid-June, the China Securities Regulatory Commission (CSRC) has set up a team to look at “clues of illegal manipulation across markets”.

After market close, a CSRC spokesman said China would cut initial public offerings and capital raisings and support long-term investors entering the market to help stabilize prices .... http://investmentwatchblog.com