China's listed companies rush to tap central bank funding for share purchases

A woman sits on the Bund near Huangpu river as she looks on the financial district of Pudong in Shanghai, China, on Sep 27, 2024. SHANGHAI: More than 20 Chinese listed companies have announced plans to tap special central bank lending for share purchases, according to exchange filings, days after the People's Bank of China kicked off the US$42 billion funding scheme.

Analysts expect more firms to follow suit, injecting fresh cash into the stock market and adding fuel to a rally that appears to be losing steam. Similarly, companies with net profit margins exceeding that level could also be willing to buy back shares, she said, predicting blue-chip companies would be more likely to participate in the scheme.

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Source: The Straits Times - 🏆 8. / 63 Read more »