China won't allow 'roller-coaster' markets after Brexit: Premier Li

Beijing

CHINESE Premier Li Keqiang said on Tuesday he wouldn't allow the post-"Brexit" panic that roiled global currencies and stocks to send the country's financial markets into a tailspin, an indication authorities would intervene if needed to prevent market chaos.

"It's hard to avoid short-term volatility in China's capital markets, but we won't allow roller-coaster rides and drastic changes in the capital markets," said Mr Li, speaking at the World Economic Forum (WEF) in the city of Tianjin. "It's important for all of us to work together to strengthen confidence, prevent the spread of panic, and to maintain the stability of capital markets."

The assurance came as the post-Brexit turmoil that swept global markets and sent the pound …