Stock market; RMB; Xi and culture; US-China meetings; Messi mess in Hong Kong
Summary of today’s Essential Eight:
Stock market has a good Tuesday - The markets were up big Tuesday on news that Central Huijin is buying ETFs, more statements from the CSRC about policies to restrict short-selling and margin lending while guiding “institutional investors, including public funds, private funds, securities companies, social security funds, insurance institutions, and annuity funds, to enter the market with greater intensity”, and a report from Bloomberg that “regulators led by the China Securities Regulatory Commission plan to update the top leadership on market conditions and the latest policy initiatives”, spurring hopes of some more meaningful market rescue efforts. There has been no official confirmation of or report about that possible meeting. The best quote I saw today was from a Reuters article, and is a reminder of the many levers policymakers have to stop selling if not actually push the market up - "Our line was unplugged," a quant hedge fund trader in sou…