Haitong Securities has agreed to invest up to RMB 15bn ( $ 2.42bn ) in buying stocks ( blue - chip ETFs ) in mainland China 's equity market , to assist the regulators and central bank in their efforts to stabilise the market , which had fallen nearly 30 % in three weeks ; Haitong 's investment is separate to the agreement it had earlier entered into , in which several Chinese securities firms committed $ 120bn ( $ 19.3mn ) towards buying stocks to stabilise the market . However , they have so far not seemed to have reacted positively to Haitong 's moves ; its stock was down 9.24 % overnight , after having fallen 10 % on Monday .
Haitong Securities has agreed to invest up to RMB 15bn ($2.42bn) in buying stocks (blue-chip ETFs) in mainland China's equity markets, to assist the regulators and central bank in their efforts to stabilise the market, which had fallen nearly 30% in three weeks; Haitong's commitment is separate to the agreement it had earlier entered into, in which several Chinese securities firms committed RMB 120bn ($19.3mn) towards buying stocks to stabilise the market. However, investors have so far not seemed to have reacted positively to Haitong's moves; its stock was down 9.24% today, after having fallen 15.24% on Monday.