China has approved four mutual funds, in hopes that the move will restore investor confidence following the recent selloff, The Economic Times reports.
Four different companies are sponsoring the funds:
The
The Shanghai Composite Index fell 8.26% on Monday, the third time in four trading sessions following an increase in the stock trading tax. It was the largest one-day drop since Feb. 27, when the index plummeted 8.84%, sending off worldwide reverberations.