(Bloomberg) — China pledged to stabilize markets after shares sank to a five-year low in chaotic trading on Friday, but policymakers offered no specifics on how they plan to end a selloff that’s erased more than $6 trillion of value and dented confidence in the world’s second-largest economy.
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The China Securities Regulatory Commission vowed on Sunday to prevent abnormal fluctuations, saying it would guide more medium- and long-term funds into the market and crack down on illegal activities including malicious short selling and insider trading.
The brief statement followed a sudden plunge of as much as 3.4% in the benchmark CSI 300 Index on Friday — and an outpouring of frustration on social media from individual investors just days before families across the country gather to celebrate the Lunar New Year.
“The statement sought to stabilize investor…
