China Intervened Today to Shore Up Stocks Ahead of Military Parade

China’s government intervened in the stock market on Thursday to end a $5 trillion rout, according to people familiar with the matter. China wants to stabilize equities before a Sept. 3 military parade celebrating the 70th anniversary of the victory over Japan during World War II, said the people, who asked not to be identified because the move wasn’t publicly announced. The intervention is the latest measure to ensure nothing detracts from the parade.
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