• GoldCore
    09/04/2015 - 07:43
    Large pools of gold in indebted nations will be vulnerable. Pool accounts, digital gold bullion vaulting providers and depositories in the UK and the US might have their companies and assets...

Hong Kong

Tyler Durden's picture

China's Market Isn't Fixed And Why The Global Bubble Will Keep Imploding





The Chinese economy is in an obvious deepening swoon and the median company on the Shanghai exchange had a PE ratio of 60X before the recent break. But no matter. Not only does everything financial race the skyscrapers to the sky in the land of red capitalism, but valuation upside is apparently whatever the comrades in Beijing want it to be. Says Goldman’s chief stock tout for China,“It’s not in a bubble yet.”. Why? Because “China’s government has a lot of tools to support the market.”

 
Capitalist Exploits's picture

NYSE "Glitch"... Really?





Does the next major conflict start with a computer glitch?

 
GoldCore's picture

Bail-Ins Coming – GoldCore Interviewed By Financial Repression Authority





The Fed’s Stanley Fischer has said that the U.S. was preparing such legislation – after Tucker had indicated that such legislation was in place. The EU is also at an advanced stage in forcing countries to ratify bail-in legislation. The legislation is being devised to protect the larger banks against the interest of both depositors, taxpayers and the wider economy.

 
Tyler Durden's picture

Frontrunning: July 9





  • Only update software on down days: NYSE, SEC Suspect Software Update Triggered Trading Halt (BBG)
  • Trade halts add to China’s Potemkin market problem (Reuters)
  • Why Beijing’s Efforts Have Failed to Tame China’s Stock Market (WSJ)
  • Irrational Exuberance Triggers Chaos as China Watchdog Sidelined (BBG)
  • China bounce ends five-day losing streak for stocks (Reuters)
  • Fear Grows in Greece as Decisive Hour Nears (WSJ)
  • Once Swarming with Greek Visitors, a Bulgarian Town Reels as Business Languishes (WSJ)
  • Greece Shuts Markets Through July 13 as Officials Debate Bailout (BBG)
  • Germany calls for European defence sector consolidation (Reuters)
 
Tyler Durden's picture

Hong Kong Hammered As China Crash Contagion Continues





No bubble can remain aloft without a heavy dose of monetary inflation. The fact that China’s authorities, including its central bank, have been unable to stem the decline stands as a stark warning to the many Western investors who seemingly believe that central banks are nigh omnipotent entities run by magicians. This is not the case. Once an asset bubble begins to burst, there there is nothing central bankers can do to stop it – and we have plenty of bubbles awaiting their turn in the barrel.

 
Tyler Durden's picture

Chinese Media Blames Soros, "Hostile" Foreigners For Stock Bloodbath





You might be tempted to suspect that the inevitable unwind of a completely unsustainable margin mania is to blame for the brutal selling that has cost Chinese shares some $3.5 trillion in market value over the last three weeks. But you’d be wrong, according to several Chinese newspapers. 

 
Tyler Durden's picture

Frontrunning: July 8





  • Greece and China expose limits of 'whatever it takes' (Reuters)
  • China no longer has a market: China Stock Sellers Frozen Out of 71% of Market (BBG)
  • China’s Market Rescue Makes Matters Worse as Prices Lose Meaning (BBG)
  • China Stocks Plunge as State Support Fails to Revive Confidence (BBG)
  • China Market Rout Spreads From Stocks to Price of Pig Food (BBG)
  • China’s State-Owned Firms Ordered Not to Cut Share Holdings (BBG)
  • Greece Requests Three-Year Bailout in First Step Toward Meeting Creditors’ Demand (WSJ)
  • Greece Faces Euro Exit Unless Demands Accepted by Sunday (BBG)
 
Tyler Durden's picture

Will Greek "Hope" Offset "Limit Down" Contagion From The "Frozen" China Crash





Today's market battle will be between those (central banks) "hoping" that a Greek deal over the weekend is finally imminent (which on one hand looks possible after a major backpeddling by Tsipras - who may never have wanted to win the Greferendum in the first place - yesterday in Brussels and today during his speech in the Euro Parliament, but on the other will be a nearly impossible sell to Greece as any deal terms will be far harsher than the deal offered by the Troika 2 weeks ago and will have no debt reduction), and those who finally noticed that the Chinese central planners have effectively lost control.

 
Tyler Durden's picture

China Bans Use Of Terms “Equity Disaster” And “Rescue The Market"





Because when banning selling doesn’t work, the logical next step is to ban talking about selling...

 
Tyler Durden's picture

US Stock Futures Rebound On "Hope" Although China Has Big Trouble As Market Begins To Freeze





When it comes to Greece, and Europe in general, "hope" continues to remain the driving strategy. As Bloomberg's Richard Breslow summarizes this morning, "if you were looking for a word to describe the general feeling of equity markets today, you might well pick hopeful. U.S. equity futures opened higher and have been up all day. European bourses opened cautiously     higher as they await word, any word, from the European finance ministers or more importantly, Chancellor Merkel. Equity markets will continue to be very reactive to European headlines, but so far, no news has been taken as a reason for hope." Which incidentally, has been the general investment case for the past 6 years: "hope" that central banks know what they are doing.

 
Tyler Durden's picture

In China, Hairdresser Bull Call Goes Horribly Wrong, Broker IPO Crashes 31%





“I don’t really follow news on stocks that closely. My hairdresser said it was still a bull market and I needed to get in”...

 
Tyler Durden's picture

Frontrunning: July 6





  • Greece Bailout Referendum: They Voted ‘No’. Now What? (BBG)
  • Varoufakis Quits as Greece Enters New Showdown With Europe (BBG)
  • Merkel to Meet Hollande as Greece Told to Make Next Move (BBG)
  • German line hardens after Greek referendum 'No' (Reuters)
  • BOJ keeps rosy view of regional Japan, watching markets after Greek upset (Reuters)
  • Oil falls on Greece vote, China stock market turmoil (Reuters)
  • China Urges U.S.-Iran Compromise 36 Hours to Nuclear Deadline (BBG)
  • U.S. and Iran: the unbearable awkwardness of defending your enemy (Reuters)
 
Tyler Durden's picture

Tumbling Futures Rebound After Varoufakis Resignation; Most China Stocks Drop Despite Massive Intervention





More than even the unfolding "chaos theory" pandemonium in Greece, market watchers were even more focused on whether or not China and the PBOC will succeed in rescuing its market from what is now a crash that threatens social stability in the world's most populous nation. And, at the open it did. The problem is that as the trading session progressed, the initial 8% surge in stocks faded as every bout of buying was roundly sold into until every other index but the benchmark Shanghai Composite turned sharply red.

 
Tyler Durden's picture

China Scrambles to Put Plunge Protection Team Together: Banks Pledge Support For Crashing Market





China has moved in the direction of direct intervention in its flagging equity markets, although it appears Beijing will try to orchestrate a “private” sector (whatever that means in China) solution first before going the nuclear route with the central bank’s balance sheet. As Bloomberg reports, the country’s largest brokerages are teaming up to invest nearly $20 billion in “blue chip” Chinese equities.

 
Tyler Durden's picture

Chinese Stocks Plummet Despite Government Threats To Shorts, Europe Lower, US Closed





The Greece impasse set to culminate on Sunday continues to have a massive impact on at least one stock market, unfortunately it is the wrong one, located on a continent which is mostly irrelevant to the future of the Greek people (unless that whole AIIB bailout does take place of course). We are, of course, talking about China which as noted earlier, started off horribly, plunging over 7% with over 1000 stocks hitting 10% limit down, then in the afternoon session mysteriously recovering all losses and even trading slightly higher on the day, before the late selling returned once more, and the Shanghai Composite plunged to close down 5.8%: an unimaginable 20% total roundtrip move!

 
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