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Japanese Stocks/USDJPY Plunge As China Cracks Down On Aggressive-Buying By "Sinister Stock Squads"
Despite the approval of various Asian nation officials (e.g. Japan's Amari: "Fed decision appropriate"), it appears non-hawkishness is not enough to keep the dream alive. Japan's Nikkei 225 is down over 600 points from its post-FOMC spike highs, and USDJPY has tumbled over 1 handle - back below 120.00. Chinese stocks are extending losses after last night's late tumble, as ironically, China's securities regulator has uncovered a number of market manipulators who boosted prices of some stocks to sky-high levels during the peak of the bull market, attracting numerous followers who have suffered heavy losses in the recent market crash. The PBOC strengthened the Yuan fix for the 2nd day in a row (by the most in 2 weeks).
A sigh of relief from Japan's leadership:
- *AMARI: FED DECISION APPROPRIATE IN VIEW OF WORLD, U.S. ECONOMY
- *AMARI: IMPACT FROM RESULTS OF FED DECISION WASN'T BAD
But it is not enough, as USDJPY and Nikkei 225 are tumbling...
And this did not help...
- *FORMER JAPAN MOF OFFICIAL EISUKE SAKAKIBARA SPOKE IN TOKYO
- *SAKAKIBARA SAYS DOLLAR-YEN MAY MOVE TOWARD 115-120 RANGE
- *SAKAKIBARA SAYS DOLLAR-YEN RATE UNLIKELY TO BE TOWARD 125
Which legged USDJPY lower still.
* * *
Broad asian equity markets weaker...
- *MSCI ASIA PACIFIC INDEX DROPS 0.6%, EXTENDING LOSS
And China is opening lower, extending last night's closing weakness...
- *CHINA'S CSI 300 STOCK-INDEX FUTURES FALL 0.4% TO 3,143.8
Despite a 2nd day of releveraging...
- *SHANGHAI MARGIN DEBT BALANCE RISES FOR SECOND DAY
Which is ironic since China's securities regulator has uncovered a number of market manipulators who boosted prices of some stocks to sky-high levels during the peak of the bull market, attracting numerous followers who have suffered heavy losses in the recent market crash, according to Shanghai's China Business News.
The China Securities Regulatory Commission (CSRC) has penalized two such manipulators, announcing on Sept. 11 the confiscation of 47 million yuan (US$7.3 million) of the illegal gains Ma Xinqi and Sun Guodong made from stock manipulation.
In its announcement, the comission described how Ma Xinqi jacked up the stock price of Beijing Baofeng Technology, an internet video company, by placing massive orders which were canceled shortly afterwards before selling off his original holdings of the stock, making huge gains.
Sun Guodong repeatedly bolstered the stock prices of Guangdong Qtone Education and 12 other listed companies by placing orders for those stocks before selling off his original holdings the following day.
Insiders pointed out that Ma and Sun are members of 10-dd "stock squads" focusing on investments in high-flyers, China Business News said.
"These stock squads, each boasting several hundreds of millions of yuan in funds, carefully study technical market charts and profit from investments of extremely short duration," remarked an executive of a private equity fund, adding that in addition to their own money the squads also solicit funds to boost their clout in manipulating stock prices.
The private equity fund executive said both Ma and Sun are but minor players among the stock squads, however, pointing to their limited profits, according to the announcement of CSRC.
Market insiders suspect that Ma and Sun are followers of much greater forces manipulating stock prices, perhaps involving fund managers, which were behind the stock price rise at daily ceiling of Baofeng Technology for 34 trading sessions consecutively in March this year, according to China Business News.
"Institutional investors have driven the prices of many stocks with shaky fundamentals to sky-high level," the private equity fund executive said.
So - it appears - in China, do not be an over-aggressive buyer or a seller of stocks. We love the smell of free markets in the morning.
China strengthened the Yuan fix fior the 2nd day in a row..
- *CHINA SETS YUAN REFERENCE RATE AT 6.3607 AGAINST U.S. DOLLAR
That was the biggest rise in 2 weeks:
- *CHINA RAISES YUAN REFERENCE RATE BY 0.1%, MOST IN 2 WEEKS
Charts: Bloomberg
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Sheesh if they'd print me up a bundle even I could show them how to keep the market level. What are they stupid.
Zeesh! Cracking down on Aggressive Buying by Sinister Stock Squads?
Just a week ago they were arresting people for Rampant Selling.
And like Roseanna Roseanna Danna, one day they're strengthening the yuan, the next weakening it
These people are as lost as the FED
We're surrounded and captive to morons and idiots
Sounds like more jacked than the Fed, although that is hard to fathom.
"Sinister Stock Squads"
This really **is** Batman...
sufferin suckatash.
You can't have all markets shooting straight up after the Fed says no interest rate rise. Gotta give it a few days before the hockey stick or it would be too obvious to the casual observer. Wait for it.
China is unloading USTs at maximum with a strong DXY but how long until the Fed can't buy all those bonds?
They can always buy them. If they are stupid enough to do that me and my phyzz will thank them
So what do they get for unloading USTs?
Dollars.
Turning interest-bearing assets into non-interest-bearing assets drawn on the same cartel.
What happens to the dollars they get?
People trade in their stockpile of the Chinese cartel's fiat for the US fiat and make tracks for Miami Beach.
I've yet to grasp how this works out to some sort of cunning plan by those clever orientals in the Forbidden City.
They are doing this because they have to, not because they want to.
China sells UST and buys physical gold, among others... They have decided apparently that keeping their savings in gold is safer than keeping them in UST. On top of that, they won't have to put up with the antics of US gov when it will decide one day to selectively default on its debt.
"What happens to the dollars they get?"
They buy New Zealand.
Things are not going quite as planned...
There's a plan?
There's a plan. It's a big plan, and we ain't in it.
It is Plan 9 From Outer Space and they mostly come out at night. Mostly.https://m.youtube.com/watch?v=gK4olkFGJrw
See, the thing to do is have Chinese government officials institute reforms on pump & dumps AFTER THEY promoted a massive stawk bubble and then got out.
Then they're the good guys ;-)
The ole' pump & dump, same as it ever was.
*SAKAKIBARA SAYS DOLLAR-YEN RATE UNLIKELY TO BE TOWARD 125
yeah that's 'cause it's going to 140 instead
"Market manipulation"? Join the fucking club! Ha-ha! Just NOW seeing how it "works"? That is really rich. Bong hits all around! Or opium as the case may be.
James Comey, torturer. FBI is programming some low IQ basement dweller for the next "save".
Absolutely amazing...The creativity of these poor things is almost charming.
North Korea is perhaps the most advanced country..in so far as the government there has been remarkably well insulated against attacks by the ----?
I've sniffed mentions of N.K. being a laboratory of sorts. By elitist standards and objectives, america is making much Progress. However danger remains as these critical months ahead unfold into an ever more narrowing window of opportunity.
The we "transformed some folk's" part ain't over yet..he-he-)
The realization of our 'leaders' plans for us has only just accelerated.
We are the fortunate people today.
GOVERNMENT HAS ONLY JUST BEGUN.
So much juggling, with so few hands. We'll soon find out who our real friends are.
I don't think we want to know the answer to that ???
Lots and lots of spinning plates on sticks.
Yellen was spinning hers today for sure, furiously.
So I look at Bloomberg and then CNBC and they aren't showing this at all. Every bit of what the MSM is putting out is a total fucking lie. They have been taken over and are robbing people blind. They must be stopped.
Yes but, at this very moment, you should buy USDJPY.
The FED has to hold ZIRP lest the Chinese not get full value for their USTs.
http://www.bloomberg.com/news/articles/2015-09-17/china-u-s-reach-agreem...
Who will be up to ride the new Chinese Bullet train to Vegas?
Sad, this country cant even build its own bullet trains, Americans will die riding this inferior Chinese POS across the desert.