China mutual funds told to buy more stocks to boost market

The mainland's securities regulator is ratcheting up pressure on mutual funds to increase equity purchases after the key stock market indicator lost nearly 3 per cent this week.

The move was seen as the first substantial step by the newly appointed chief regulator, Xiao Gang, to support the beleaguered stock market since he took office five weeks ago.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1224192/china-mutual-funds-told-buy-more-stocks-boost