China state firms pledge to boost share purchases to calm markets
Chinese state holding companies vowed on Tuesday to increase share investment while a slew of listed firms announced share buybacks as Beijing stepped up efforts to stabilise a stock market rocked by U.S. tariff woes. The announcements by companies including China Chengtong Holdings Group and China Reform Holdings Corp come a day after state fund Central Huijin said it would increase share holdings to steady markets. China's stock market rebounded on Tuesday, clawing back some of Monday's 7% slump, which was fuelled by trade war and global recession fears.