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COMING UP:Share Opener Variant 2

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Transcript

00:00:00
nnat pop your own shares and prop up the price China's message student big company that tries to ride out the storm on the stock market it's a straightforward idea while money into shares defined of confidence and hopefully the country's army of investors will follow suit at peak Sweeney reports from Shanghai asking companies to do the patriotic thing easy when the government has such a large hand in business all if your state owned company I'm at a particularly important that your scene on aligning yourself with the goals of the state , sons of responded to Beijing's rallying cry flying up more than six billion dollars of their own stock but only if you have seen the crowd they were hoping for most of the companies that are bought back shares have lost money on the proposition , on the first round government encouragement for buybacks is back in July and at that point a lot of people jump into the market but while there was a brief rally after that market of come down again sent a lot of the companies that sitting on waters of twenty percent , you know twelve percent fictional just major companies that are feeling the pinch from China grand investment plan many brokerages Awori that their reputations are on the line you'll sort of lose credibility with clients you know if you're going to be a living people investment by saying by here sold their you know if you're seen as being a primarily serving purpose of government propaganda trying to encourage people to buy shares when there is a significant downside left in the market on average companies that Pollard Beijing's cold on thirteen their share price for fourteen percent in the last three months , stop shop's telling investors or you need to know about a government plan that is clearly backfired