Posted on 08/23/2015 7:31:31 PM PDT by TigerLikesRooster
Chinese shares drop in dramatic free-fall
24 August 2015
Chinese shares continued their sharp fall on Monday as concerns over the country's slowing growth and volatile markets sparked panic among traders.
The mainland benchmark index, the Shanghai Composite, fell sharply by 8.4% to 3,211.75 points, extending last week's sharp losses.
The sell-off continued despite China's latest attempts to reassure investors.
Over the weekend, Beijing said it planned to let its main state pension fund invest in the stock market.
(Excerpt) Read more at bbc.com ...
I like Zero Hedge. I visit it almost daily. There are some very witty posters there. But Zero Hedge reports nothing but bad news all day, every day, 24/7/365.
But this time they just might be right.
It appears that the Japanese market ceased trading about 20 minutes ago.
Ceased or regular close?
Don’t know.
With HF trading the stupid computers just create their own crash.
It is too late for the individual investor to get out. Especially MFs that won’t close until the end of the day.
China’s heavy-handed intervention has shown the world that they are completely unable to operate a real market, and the harder they try the faster it will crash.
Face saving doesn’t work in finances.
But this time they just might be right.
I agree.
It is lunch hour in Japan, not closing time.
It would be interesting if we said no. That could raise some hell short and long term.
I’ve been day trading RUSS all summer, Up 10%. I don’t have the courage to hold it long - have seen it down as much as 20% in a day. But it was up 12% Friday.
Agree 100%. They are still immature as a financial force, very.
There is only Rule of Law in Hong Kong for sure. At least there used to be and from my contacts there still is. But Beijing is irritating the hell out of the sharper knives in HK.
Trump has called this from, well, years ago.
When DT says he has the best business traders and negotiators (at his beck and call), I believe him and take him at his word. You know one thing is becoming clear about DT, he does not lie. That I think is the key reason why he’s gathering a groundswell of support to him.
Heads up.
And HK resents them greatly. Our friends in Guandong tell us that the tension has moved to the passive-aggressive stage.
Even further north, the pre-programmed platitudes spoken of the regime in public are merely to avoid that kicking in of the door at night.
Once the exports truly fall off the cliff, the new middle class won’t sit by quietly. (Ok, yes they will... They have no guns and the PLA doesn’t care about stocks.)
Not any time soon.
As their currency value goes down those dollar based holdings are looking good.
And, and this is a big AND,
They are trying to devalue their currency relative to the dollar so they are more competitive. If they sale US treasury notes en masse it will lower the value of the dollar negating their currency devaluation making them less competitive. They are in a box. And so are we I might add...
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