Chinese state investment fund promises to expand share holdings to help support sagging markets

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — A major Chinese state investment fund has promised to expand its purchases of stock index funds to help support sagging markets. Shares logged moderate gains after the announcement by Central Huijin Investment. Central Huijin Investment is a Chinese sovereign fund. It has stepped up buying of shares in big state-owned banks and other companies to counter heavy selling pressure in the Chinese markets.  The move followed warnings by the market regulator of a crackdown on market manipulation, insider trading and other abuses and promises to protect smaller investors who usually account for the majority of trading in Chinese markets.