I am watching the Shanghai and Shenzhen Indexes. Shanghai pulling up a bit right now. Back to -6% down.
Yeah a50 just did also. Considering it hit -10%, considerably more than the other indexes, I am wondering if it will pull back a little more and get in line with them or if it will maintain around this. Any thoughts @volpunter ? Edit: ...down 13%, nevermind lol
I hear its a lot forced liquidations. Many brokers tightened their margin requirements after the government allowed them to do so. But above all it is the grey and black market that provided leverage that is calling back money. P.S.: I do not hate you, I never wished you lose money. Please do not be so self absorbed.
This I believe, I'm afraid I'll hear similar schock stories from underground debts incured in the chinese stock market that I used to hear about debts incured in Macau. Many locals seemed to believe the government would hold the markets up. It might come as an expensive disenchantment
ES down over 1% as well, which disturbs me more than the China rout. Won't be chilling out too long in the spa today I'm afraid.
Has anyone, anywhere, ever been under the illusion that China was a "free market"? These tactics should have been anticipated in the context of their past.
I honestly believe the government does try to push up the market but they failed so far. The size of invested capital has grown to such proportions that a huge selling wave cannot be fought unless PBC goes all in which they have not done so far and do not need to. I think it is in the leadership's interest to "educate" speculators...maybe not at such pace which is why they tried to intervene.