PBOC looks set to stabilise Chinese stocks

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After the near 4% drop in A-shares yesterday on the Shanghai Composite, precipitated by another round of punitive tariffs by the Trump administration, it was inevitable that Chinese authorities would step in somehow.

An event like this on US markets would usually involved the rolling out of Fed officials to placate fears, but without any official intervention, whereas the more heavily fiddled with Chinese speculative bourses are always ripe for intervention.

Cue Yi Gang, governor of the People’s Bank of China this morning:

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