6/19T10:15 Co. in the News

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China battles plunge in shares - FT
FT reports Chinese regulators have delayed approvals for initial public offerings and are exerting pressure on domestic fund managers and brokers to buy shares, while a range of other options to boost plummeting share prices is considered, market participants and regulatory officials have told the Financial Times. "Our unofficial bottom line right now is 2,000 points," one regulatory official admitted. "After that we will make some more serious recommendations to the central government to help support the market." Officials say the China Securities Regulatory Commission is under enormous pressure from senior govt leaders and the public to halt the steep slide in the stock market that has seen the benchmark index drop by more than half from its October peak. Despite years of market-based reforms, the CSRC is still expected to take responsibility for the performance of key stock indices, an expectation that is heightened each time it interferes in the market to boost or damp sentiment... The regulator is also close to permitting brokers to offer margin trading, allowing investors to buy stocks with money borrowed from their brokers -- a practice previously banned in China.