Giant mutual funds set up to stabilise China A shares

Giant mutual funds have been set up in a bid to bulk purchase shares and stabilise China’s volatile equity markets. The five funds, with assets of more than Rmb200 billion ($32.2 billion) in total, are seen as the Chinese government’s latest response to wild A-share swings over the past month. It comes as the Shanghai and Shenzhen stock exchanges have banned dozens of traders from operating amid accusations of destabilising the markets. Three mutual fund companies - Guangzhou-…