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Habitual Chinese Gamblers Dump Macau, Go All In On Chinese Stocks

Tyler Durden's picture




 

When the PBOC popped the Chinese equity market bubble earlier in the week, American investors (and talking heads) were stunned by such limitations on speculative excess. However, as the following chart suggests, perhaps it was a public service they were doing as the demise of Macau's easy-visa workarounds to currency controls has meant China's habitual gamblers needed to find a new outlet for their cash...

 

 

As Bloomberg reports,

“Customers who used to wager on casino tables are probably now sitting at home betting on stocks,” said Tai Hui, Hong Kong-based chief Asia market strategist at JPMorgan Asset Management. “Investors are levering up on margin trading, or ‘using a small knife to cut a large tree.’”

 

...

 

Casino revenue in Macau slumped last month to 24.3 billion patacas ($3 billion), the lowest level since September 2012, while trading on the Shanghai and Shenzhen stock exchanges reached a high of 1.24 trillion yuan ($200 billion) yesterday.

Chart: Bloomberg

 

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Thu, 12/11/2014 - 20:34 | 5542272 HedgeAccordingly
HedgeAccordingly's picture

hell.. tell them to come over the pond and buy up our stocks.. 

 

http://hedgeaccordingly.com/2014/12/doubleline-robert-shiller-establish-...

Thu, 12/11/2014 - 20:39 | 5542282 kaiserhoff
kaiserhoff's picture

I didn't even know Jon Corzine was Chinese.

MoFo Global, Babeeee!

Thu, 12/11/2014 - 20:39 | 5542290 Yen Cross
Yen Cross's picture

    How do you say sheeple in Mandarin? At least the Chinese sheep/serfs can still afford to gamble.

 

Thu, 12/11/2014 - 21:10 | 5542380 fauxhammer
fauxhammer's picture

Wi Tu Rong

Fri, 12/12/2014 - 01:19 | 5543124 JAFAH
JAFAH's picture

Wi Tu Long (Stawks!)

Thu, 12/11/2014 - 21:39 | 5542464 I Write Code
I Write Code's picture

Maybe if they didn't announce the numbers in patacas.

Thu, 12/11/2014 - 21:43 | 5542482 goldhedge
goldhedge's picture

Fucking easy to gamble "stolen" money isn't it?

Thu, 12/11/2014 - 23:21 | 5542815 williambanzai7
williambanzai7's picture

Thu, 12/11/2014 - 23:58 | 5542937 roddy6667
roddy6667's picture

The government isn't just cracking down on corruption. They are advising government officials against behavior in public that doesn't reflect well on the Party. Excessive displays of wealth and wasteful behavior is at the top of the list. That eleminates splurges at the casinos and huge wasteful dinners at restaurants where most of the food is not eaten. Even smoking in public has been advised against.

Fri, 12/12/2014 - 01:19 | 5543128 JAFAH
JAFAH's picture

Smoking in public? Wow. Thats sowing some seeds of discontent.

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