Beijing managed to get a pop at the Shanghai open, but will it last?
A 7.8 per cent climb in the first minute of trading on the Shanghai Composite couldn't be maintained. Within 15 minutes the gain fell to 3.8 per cent, suggesting investors are using the pop to sell into the rally.
At Citi, analysts said the stabilisation measures rolled out by Beijing policy makers were likely to support sentiment in some circles. But they foresee levered up buyers continuing to wind down trades:
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