“It is really hard to trade stocks,” Li Shuwei, chairman at Beijing WanDeFu Investment Management, told the Straits Times. “It’s impossible to predict how this disease will develop. Even the experts have no clear idea when the outbreak will end, let alone stock traders.” He added: “It’s too early to buy stocks right now and it’s also difficult to sell as all shares are limit down. So I will just have to wait and see.”
In anticipation of a rout, the People’s Bank of China said on Sunday that it would inject $1.2 trillion yuan (over $170 billion) into the Chinese markets using the purchase of short-term bonds to shore up banks’ ability to lend money. The measure will help maintain “reasonably ample liquidity” in the banking system and keep currency markets stable, according to the bank.