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Thread: What do you think of the rumours?
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[quote=JIMMYB,316609]Recently, some rumours have said that the government will do something to rescue the stock market. Last week J.P.Morgan said that Chinese authorities might consider an 200 billion to 400 billion yuan ($33 billion-$67 billion) economic stimulus package to cheer up China's economy. As for the stock market, another rumour says that the government will invest a chunk of its near US$2 trillion of foreign reserves in A-shares to rescue the market. Encouraged by this, Chinese shares increased on August 20th. However, Merrill Lynch doesn't agree with J.P. Morgan. It says that these rumours are groundless. Merrill Lynch thinks that Chinese authorites won't invest its huge amount of foreign reserves in A-shares. What do you think of the rumours? Will China use its foreign reserves to rescue the market?[/quote]
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