MNI BRIEF: Central Huijin To Continue ETF Purchases

China’s state-backed Central Huijin Investment fund said on Tuesday it would scale up purchases of exchange-traded funds (ETFs) as equity markets suffer shocks from the China-U.S. trade war. 

According to a statement, the company pledged to work as a quasi-stabilisation fund and a “national team” to counteract any irrational fluctuations in equity markets. 

Huijin has ample liquidity, supported by multi-tenor financing framework spanning short-, medium-, and long-term market-based channels, and the People’s Bank of China (PBOC) stands ready to provide additional liquidity support, the statement said. (See MNI:PBOC To Buoy Assets, As Stocks, Property Added To Mandate)