• China pledged to stabilize markets after shares sank to a five-year low in chaotic trading on Friday, but policymakers offered no specifics on how they plan to end a selloff that’s erased more than $6 trillion of value and dented confidence in the world’s second-largest economy.
• The China Securities Regulatory Commission vowed on Sunday to prevent abnormal fluctuations, saying it would guide more medium- and long-term funds into the market and crack down on illegal activities including malicious short selling and insider trading.
• While authorities have taken piecemeal steps to support the economy and markets in recent months and have discussed a potential stock stabilization fund, they’ve yet to announce any major moves to put an end to the selloff. Weak economic data, simmering geopolitical tensions with the US, a worsening property crisis and an opaque crackdown on the financial sector have all weighed on investor sentiment.