China Halts Stock Trading For Day After Entire Market Crashes
Following the initial halt in CSI-300 Futures at the 5% limit down level, the afternoon session opened to more carnage and amid the worst 'first day of the year' in at least 15 years, Chinese stocks collapsed further to a 7% crash. At 1334 local time, stock trading was halted for the rest of the day across all exchanges (at least two hours early).
As Bloomberg reports,
Chinese stock trading was halted for the rest of the day after the CSI 300 Index plunged more than 7 percent.
Trading of shares and index futures was halted from about 1:34 p.m. local time, according to data compiled by Bloomberg.
Stocks fell as manufacturing contracted for a fifth straight month and investors anticipated the end of a ban on share sales by major stakeholders.
Under the mechanism which only became effective Monday, a move of 5 percent in the CSI 300 triggers a 15-minute halt for stocks, options and index futures, while a move of 7 percent close the market for the rest of the day. The CSI 300 of companies listed in Shanghai and Shenzhen fell as much as 7.02 percent before trading was suspended.
Not a happy new year...
Dow futures are now down over 150 points from NYE close, Gold and Treasuries are bid, and offshore Yuan has plunged most since the August devaluation.
(9 votes)
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Yellen can't sleep.... keep taking the pills it will be fine!
PPT on standby in Europe and U.S markets. Circuit breakers, testing 1,2,3...
Is it just me (I`m in Oz) but it seems when PM`s are making good gains, Kitco apps go down?
Well, something simillar might be happening on the Eastern Seaboard of the US at local dawn. Au price up on Asian markets until then. After then, prices beaten down again. It will be interesting in the Chinese sense of the word (like the old Chinese curse of "May you live in interesting times"...war, flood, famine, etc.) when the stock market here opens in a few hours. I'm expecting another recap of August.
Was watching gold going up last night while reading on ZH about Saudi saber rattling in Iran's direction. Let's see if it gets past the $1,077 glass ceiling it's been held under for weeks.
Alarms and klaxons must be going off at the Fed as the Plunge Protection Team locks-and-loads their stock purchase guns and rushes to the barricades. But this time there may not be enough ammunition.
....now at $1082
Please
Just
b
U
Y
T
h
e
D
i
i
i
i
i
i
i
P
FED to capitulate off tightening cycle in 3..2..
The Chinaman (SUMKUNT) is doing this deliberately !
Aaaaaannnnnnnd....ITS GONE! poof
or you could have just got some PM's....
Momma told me there'd be days like this.
<- invest in NWL (Elmer's Finest)
<- sniff stockpile
have no fear PPT is here
Did you expect any better?
There are more people in China who shit in the river and don't have electricty than the entire U.S. population.
Duct tape and bailing wire folks.
We're all Chinese today, You only have your guns to save you for awhile.
Make the limit down 50% and that massive 30 trillion dollar iceberg will disappear in a matter of months. So will a lot of super wealthy, but hey who gives a shit. Hang some bankers and have a fucking party.
A few hung bankers? - that's called a "nice start".
How the hell are we to get an implosion if they keep snuffing out the fuse?
(this is the implosion)
#ChineseMarketsMatter
Who'da thunk it...??
Black Monday = Farmer Joe Funday
I wish I could just flip the switch off on reality when I have a bad day.
Hory shet......................
Not to worry; China will arrest some folks who are selling and things will start looking up. Talk about market influence . . .
This is undoubtedly a result of the smart money moving into bonds and away from stocks the last three months.
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