Global Market: China's securities regulator to meet market participants as state-backed investors step in to support stocks

China's securities regulator CSRC has convened financial industry representatives to discuss policy measures aimed at restoring confidence in Chinese capital markets after a sharp correction. State-backed entities China Reform Holdings and China Chengtong Holdings have collectively deployed around 60 billion yuan to stabilise equities, with the Shanghai STAR Market index down about 25% from its July 1 peak. The sell-off was driven by liquidity concerns around chipmaker CXMT's $8.6 billion IPO, a global semiconductor rout, and renewed Middle East geopolitical tensions.