Chinese fund houses told to limit equity sales as economic slowdown worsens - reports

According to Bloomberg, stock exchanges have issued guidance to a number of large mutual fund houses, asking them to refrain from selling more onshore shares than they have purchased. This was a tactic used to stem a fall in local assets in times of severe economic slowdown - and China's current period of suffering was only heightened last week after it was revealed the country had entered a state of deflation. China central bank makes unexpected rate cut Meanwhile, yesterday's interest rate cut has done little to boost sentiment, though many believe the government is considering m...