China’s Season of Stock Market Turbulence Continues: A Timeline

China’s overhaul of tutoring companies ignited a volatile period for stock markets both onshore and in Hong Kong this summer, leaving investors on edge.To get more International finance news china, you can visit shine news official website.

As autumn arrives traders remain on guard for what regulators may target next as Beijing tightens its grip on a range of sectors from private education to digital gaming, e-cigarettes, property and insurance.

They’re also on the look out for bargains and stocks that benefit from President Xi Jinping’s “common prosperity” campaign, which is adding to continuing wild swings.

Here’s a look at the key events since July 23:

Sept. 8 - Tencent, NetEase Summoned

A pair of government agencies summoned gaming companies including Tencent Holdings Ltd. and NetEase Inc., state-run Xinhua News Agency reported. Regulators are beginning to check for illegal behavior and warned there needs to be strict oversight of game promotion, celebrity endorsements and live broadcasts in order to keep minors from becoming obsessed with gaming, according to the Xinhua report. Tencent and NetEase both slumped more than 5% in Hong Kong on the development.
Sept. 7 - Didi Takeover Report Rejected

The Beijing municipal government rejected a report it had proposed an investment in Didi Global Inc. that could put the Chinese ride-sharing giant under state control and keep its assets within the Chinese capital. Bloomberg News had reported on Sept. 3 that such a proposal had been made, citing people familiar with the matter. The company’s U.S.-traded shares spiked as much as 9% that morning in New York.

Sept. 4 - Money Flows to Mainland Equities

Amidst the turmoil in markets, foreign investors have still added to their holdings of stocks in Shanghai and Shenzhen every month since November via trading links, according to Bloomberg calculations based on data from Hong Kong’s stock exchange.
Sept. 3 - Currying Favor With Charity

Alibaba Group Holding Ltd. pledges 100 billion yuan ($15.5 billion) over five years toward Xi Jinping’s “common prosperity” vision, joining peers like Pinduoduo Inc. and Tencent Holdings Ltd. in donating to social causes.But investors were less than impressed, with Alibaba’s stock slumping in Hong Kong by 4%, mirroring reactions to similar announcements by other tech giants.Meanwhile, President Xi Jinping signaled his desire to repair ties with the market, announcing a new stock exchange to be opened in Beijing to serve innovative small businesses