China calms jittery investors with yuan stability, clear message

New York

CHINESE authorities seem to finally be getting through to investors after months of confusion about the nations' economic policies helped drive a US$9 trillion global equity rout.

Recent moves such as ruling out the possibility of a one-off yuan devaluation, a new head of the securities regulator and an increase in the money available for lending appear to be winning back some confidence. Fresh data on Tuesday showing a further slowdown in the world's second largest economy barely made a dent in a broad market rally. Until three weeks ago, such a signal probably would have sparked a sell-off.