China's Central Huijin Investment said on Monday that it firmly believes in the promising prospects of China's capital market and fully recognizes the current investment value of A shares, according to a notice on its official website.
The state-owned investment company said that it has recently increased holdings of exchange-traded funds (ETFs), will continue to do so in the future, and will resolutely maintain the stable operation of the capital market, per the notice.
The Securities Times reported earlier on Monday, citing authoritative sources, that Central Huijin was actively carrying out market stabilization operations.
Chinese stocks fell sharply on Monday, with the benchmark Shanghai Composite Index down 7.34 percent at market close. This came as major stock indexes plunged in Asia on Monday as the US administration showed no sign of backing away from its sweeping tariff plans, and investors bet the mounting risk of recession could see the US Federal Reserve cutting rates as early as May, Reuters reported on Monday.
On Monday, Japan's Nikkei 225 index plunged 7.83 percent, while South Korea's KOSPI index fell 5.57 percent.
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