The Chinese stock market rose moderately on Tuesday, after a large Chinese state-owned fund intervened again in the stock market.
Central Huijin Investment, a subsidiary of China's sovereign wealth fund, announced in a brief announcement on Monday evening that it had bought into "traded open-ended index funds" on the same day and would continue to increase its holdings in the future.
Previously, the Shanghai and Shenzhen 300 Index fell to its lowest level since 2019. The Shanghai and Shenzhen 300 Index represents the most valuable stocks in the two stock markets.
On Tuesday afternoon, the Shanghai and Shenzhen 300 Index, which had fallen for four consecutive trading days, showed little change; The Shanghai Composite Index, which also tracks the domestic stock market in China, rose moderately. The Shanghai Composite Index ended Tuesday up 0.8% at 2962.24 points.
Central Huijin did not disclose how much funds were deployed on Monday, nor did it disclose which ETFs it had purchased. Earlier this month, Central Huijin symbolically increased its holdings in China's four major banks, which is also widely seen as support for the domestic market.
In Hong Kong, the benchmark Hang Seng Index has fallen and may hit a new closing low for 2023. The Hong Kong market was closed on Monday due to a public holiday.