A股

Beijing buys blue-chips in bid to stem declines

China’s biggest listed companies have swiftly become the key line of defence for Beijing’s policy makers as they struggle to contain a rapid downward spiral in the equity market.

Chinese shares dropped again yesterday with the Shanghai market shedding 1.3 per cent and Shenzhen index 5.3 per cent.

Both have dropped a third in the past three weeks as local investors rush to unwind leveraged bets.

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