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Chinese Stocks Extend Losses As PBOC Weakens Yuan First Time A Week
Following Monday's roller coaster of manipulated market machinations, perhaps China's leadership will keep its mouth shut tonight and just "monitor" the situation. Japan's opening 300-point flash-smash has now been eviscerated back to unchanged, Chinese stocks look set to open lower as Margin debt rose for the first time in 13 days (likely thanks to CSRC telling retail investors to "come back in, the water's fine.") As markets anxiously await China's trade data - which will either confirm the collapse or confirm the manipulation (given the utter devastation in Taiwan and South Korea trade data), the PBOC fixes Yuan weaker after 5 straight days of stronger fixes and injected another CNY150 billion in 7-day rev repo.
A reminder of yesterday's farce...
And as a reminder, it looks like tomorrow will be the day for Shanghai Composite to trigger its death cross, following CSI-300 signal yesterday.
And tonight is notholding up well...
- *MSCI ASIA PACIFIC INDEX ERASES GAIN, IS LITTLE CHANGED
- *CHINA CSI 300 STOCK-INDEX FUTURES EXTEND LOSSES, FALL 1%
Margin debt rose for the first time in 13 days - by the most in a month...
After 5 straight days of stronger fixes - the biggest 5-day jump in Yuan since Sept 2010:
- *CHINA SETS YUAN REFERENCE RATE AT 6.3639 AGAINST U.S. DOLLAR
- *PBOC WEAKENS YUAN REFERENCE RATE FOR FIRST TIME IN SIX DAYS
Just for context, this leaves Yuan a mere 4% weaker than pre-Devaluation - not exactly "war"
And time for some more liquidity:
- *PBOC TO INJECT 150B YUAN WITH 7-DAY REVERSE REPOS: TRADER
It appears that fiscal policy is warming up...
Xinhua reports that National Development and Reform Commission (NDRC) has approved six highway and bridge projects worth a total investment of CNY77.47 billion
Says Beijing is speeding up the approval of infrastructure investment projects to stem the slowdown in economic growth.
And with South Korea's monetary policy decision looming, this will not help the race to the bottom...
- *S. KOREA ECONOMY FACES UNCERTAINTIES FROM CHINA, FED
Charts: Bloomberg
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"Print China, Print!" - Forest Chump
Dow Jones 15,000 here we come!
Ah, September, bloody September.
Time to gather in all the little chicks and put them under momma's wings & feathers (an alliteration). In other words, we may be almost out of time.
Note that I have been bearish for too long, many years... If I change my mind and become a bull, that's a signal for you FISHEZ to head for the hills!
Nice view...
Shanghai SSE down? Oil down?
BOOMSHAKALAKA.
What the fuck is going on with the Hang Seng? Up 800, Nikkei 225 down 433.
Someone explain, please?
I'll bet one more revaluation will totally fix it you guys!
Commie dumbfucks. Not that Mordor on the Potomac is any better, but Christ.
"I'll bet one more revaluation will totally fix it you guys!"
The Chicoms will run thru their Reserves like a forest fire if they think they can hold up the yuan.
BTFD
Evil Kneival launch pad? Someone better tell China he's long dead....
Au down $3.10. No action nohow.
So warehouse explosion #5 incoming?
Oh you know it is. Patience, my little yellow friend. (Spoken in my best Inspector Clouseu voice.)
After we get flied lice from P.F. Changs ...
CHIEF inspector Clouseau!.
"So warehouse explosion #5 incoming?"
So that really didn't take long.... From jimstonefeelance.com
Another Chinese chemical factory explosion
This makes 5. I think that China is now experiencing a combination of Stuxnet and chemical attacks. Stuxnet can easily cause chemical explosions at chemical factories. Stuxnet is specifically designed to interfere with fluid control systems, which is why it can so easily destroy nuclear facilities, and also would no doubt be useful against chemical factories, refineries, and even ordinary coal burning power facilities. Steel mills also, anything that has to circulate fluids for cooling or mix materials properly to prevent disaster.
At any rate, I am certain that China is getting a few remote visits from the Negev desert right now.
Dammit Meng! Fucking sweep the streets and arrest some people already, we have to show we're in charge and in control!!!
On that note, these Chinese government morons actually claim to be in charge of the Dalai Lama's reincarnation cycle, heh.
http://www.chinadaily.com.cn/china/2015-09/06/content_21800755.htm
This is the level of stupidity that is captaining that vessel.
Religion is stupid.
Mankind is stupid, therefore religion exists. "My god has a bigger dick than your god" George Carlin.
bullish
This isn't Reddit, where the armchair assassins sit around and make comments about things they don't understand because they think themselves to be great students of life although they've never once built a damn thing in their lives or contributed to society in any way other than being a fucking consumer with more opinion than common sense.
My point? Making a one word comment like, "btfd" isn't a comment, asshole, it just means you don't understand the information on the graph but you want to be hip with the gang.
You're not.
Actually you can BTFD USD against CNY but that's gamble: we don't know what PBOC will pull out in the next months even if we guess more devaluation of the CNY. But it's impossible to predict those centrally controlled market...
This number doesn't look so good:
http://www.investing.com/news/economic-indicators/chinese-trade-balance-...
Oh goodie, another Death Cross tomorrow.
Doom Ball needs to get rolling again...
Death cross? The Jesus economy.
Will there be a resurrection?
To quote a lyric from the Nine Inch Nails song "Last":
Much like in science class, one can apply electrodes to a very dead frog leg and make it twitch, thus making it look "alive". For awhile anyway.
Is that not what all of the interventions / QE 1-2-3/ Operation Twist / ZIRP / NIRP / Opening ramps / Closing Ramps / BTFD / BTFATH / crushing of commodoties / have been about?
And Gold/Silver will get nailled down again...
Maybe I should also write to PBOC for about QE'ing Bitcoin or Litecoin and then retiring for life ?
That would be bullish for their economy !
It's not a war (for now) but what happen if in 6 months or even sooner they do again a 4% and 6 months later a 4 % again ?
How long is this going to last for? Is the Chinese government just going to freeze the stocks until they feel the market is rebounding ? Or is there some law that states they can't do it longer than a specified period of time ? I wish they would stop manipulating the market, and I mean the way Chinese markets have been manipulated both up and down make it hard to make a safe play. China’s great internet firewall is possibly the most complex and sophisticated censorship framework in practice today. Over the years we have seen bans on Facebook, YouTube, Twitter, Four Square and many other web services. The only way to get through this giant digital firewall of censorship and surveillance is to use a PureVPN.
http://www.purevpnreview.com/