CHINA acted to cool the speculative frenzy in its US$9.5 trillion stock market, snapping a euphoric eight-day surge that had fueled worries of a new equity bubble in the making.
Signs of Beijing’s unease over the rally’s speed emerged late Thursday, when a pair of government-owned funds announced plans to trim holdings of stocks that soared this week. On Friday the state-run China Economic Times warned about the dangers of a "crazy” bull market, while Caixin reported that regulators had asked mutual fund companies to cap the size of new products.
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