Bloomberg headline

No details yet but the Chinese are going hell for leather to support the stock market

This could be linked to the news overnight that the China Securities Finance Corp. margin lender borrowed 1.3tln yuan from banks

Update: Bloomberg add some detail tot he story now

It is related to Eamonn's story above but adds some colour. The money is from the PBOC's relending facility, credit lines to commercial banks, CSF interbank borrowing and bonds and paper sold by the CSF

The money is to offer liquidity support to brokers and to purchase stocks and mutual funds said people speaking to Bloomberg

The full story is here