(Bloomberg) — Chinese megacap shares fell Friday after two state-backed funds said they planned to trim holdings in a sign that the government wants to slow down the rally.People’s Insurance Company (Group) of China Ltd., which had become a poster child of the ramp-up in equities with a 28% surge this month, sank as much as 7.8% in Shanghai. The SSE 50 Index of the city’s largest stocks was 1.6% lower at the mid-day break. The gauge had closed Thursday within 2 percentage points of its intraday peak in 2015.China’s National Council for Social Security Fund — the country’s national …read more
Source:: Yahoo Finance
