Posted on 01/11/2016 5:33:12 AM PST by TigerLikesRooster
China stocks start new week with 5.3% drop
by Jethro Mullen @CNNMoneyInvest
January 11, 2016: 5:23 AM ET
Chinese stocks plunged deeper into negative territory Monday after a brutal first week of the year.
The Shanghai Composite closed down 5.3%, and the Shenzhen Composite ended 6.6% lower.
The grim day of trading followed steep declines in Chinese stocks last week amid worries over the country's slowing economy and weakening currency.
The turmoil in Chinese markets rippled out around the globe: the Dow lost 1,079 points, or more than 6%, over the week -- the index's worst five-day start to a year on record.
The chaotic trading in China was made worse last week by a so-called "circuit breaker" mechanism introduced by authorities in an effort to reduce the volatility that had characterized the country's stock market rout during the summer.
(Excerpt) Read more at money.cnn.com ...
P!
The Chinese Chairman will confer with his stock market adviser Wi Tu Low and his secretary of economics Sum Ting Wong.
I’m sure they’ll come up with a solution.
I am sure our illogical Stock Markets will be above 18,000 before lunch. Why should realiity infuse itself into the situation now?
The have a few billionaires missing too, some sort of corruption investigation
Didn’t the Chinese market more than double in the first 6 months of last year? So a pull back is a bit unsurprising.
Who here, can remember the good old days when we shipped cars to Europe and Asia and shipped very few foreign goods into America?
America was self-sufficient.
Now our increasingly evil government and our worthless Congress has maneuvered us into an spot from which extrication is extremely difficult.
Very large bump to your post.
That is exactly the problem, and BOTH PARTIES are completely sold out.
Both of them.
For years, everyone has been ignoring the fact that China doesn’t abide by GAAP..that Chinese financial statements aren’t worth the rice paper they’re printed on..you can’t trust, or believe, anything Chinese companies report.
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