This page has been archived and commenting is disabled.
Habitual Chinese Gamblers Dump Macau, Go All In On Chinese Stocks
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...
“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
- 8438 reads
- Printer-friendly version
- Send to friend
- advertisements -



hell.. tell them to come over the pond and buy up our stocks..
http://hedgeaccordingly.com/2014/12/doubleline-robert-shiller-establish-...
I didn't even know Jon Corzine was Chinese.
MoFo Global, Babeeee!
How do you say sheeple in Mandarin? At least the Chinese sheep/serfs can still afford to gamble.
Wi Tu Rong
Wi Tu Long (Stawks!)
Maybe if they didn't announce the numbers in patacas.
Fucking easy to gamble "stolen" money isn't it?
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.
Smoking in public? Wow. Thats sowing some seeds of discontent.