Home/Newsfeed

Ex-Aussie PM: China Learns Stock Lesson in Real Time

Share Print 0

The interventions by the Chinese government this week to try to halt the stock market meltdown there are significant but not unprecedented, former Australian Prime Minister Kevin Rudd said Friday—pointing to examples of similar moves in Japan and Hong Kong in the 1990s.

The financial markets in China are getting their first dose of real volatility and regulators there are learning how to deal with it real-time, Rudd told CNBC’s “Squawk Box” in an interview.

Boosted by hopes for a Greek deal, Chinese stocks rebounded for a second session overnight, with the Shanghai composite adding 4.5 percent to Thursday’s gain of nearly 6 percent.

Rudd said the stock market in China has little bearing on the big financial and economic picture there.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Back to Top