Chinese brokerages promise market support, firms set buybacks as trade war intensifies

Reuters - 09/04
Top Chinese brokerages have pledged to help steady domestic share prices in a concerted effort, the Shanghai bourse said, and scores of listed companies unveiled stock buying plans, as the local market reels from an escalating trade war.
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SHANGHAI/SINGAPORE, April 9 (Reuters) - Top Chinese brokerages have pledged to help steady domestic share prices in a concerted effort, the Shanghai bourse said, and scores of listed companies unveiled stock buying plans, as the local market reels from an escalating trade war.
The Shanghai Stock Exchange said late on Tuesday it held a meeting with 10 brokerages to stress the importance of stabilising markets in the face of external shocks.

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The participants, including Citic Securities (600030.SS), opens new tab, Orient Securities (600958.SS), opens new tab and Industrial Securities (601377.SS), opens new tab, expressed optimism about China's growth prospects, and vowed to steady the market, it said in a statement.
The United States said on Tuesday that 104% duties on imports from China will take effect shortly after midnight, intensifying trade tensions that have already roiled globa...
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