China’s “National Team” Dumped ETFs In Q1 To Cool Overheating Market

For years, and especially after the local stock bubble burst in spectacular fashion a little over a decade ago, China’s “National Team” – a polite euphemism for the country’s Plunge Protection Team – could be relied upon to step in and provide a lending hand – or rather buying hand – to stabilize stocks in the nick of time. Well, it may be time to rename it to the Surge Protection Team According to Bloomberg, China’s “national team” has stepped back from its dominant role in the country’s biggest stock ETFs, pointing to efforts to rein in an overheated rally…