Here We Go Again: China Halts Trading For The Entire Day After Another 7% Crash
*CHINA STOCKS HALTED FOR REST OF DAY AFTER CSI 300 TUMBLES 7%
Chinese traders unsure what to do for the rest of the day pic.twitter.com/iZ3Vo17bAa
— zerohedge (@zerohedge) January 7, 2016
"I won't short the CSI 300 again I promise" pic.twitter.com/OfxIqvFfEo
— Stalingrad & Poorski (@Stalingrad_Poor) January 7, 2016
Happy New Year...
Chinese traders are unhappy:
- Circuit breaker may be triggering “herd effect” and intensifying panic, investors may accelerate selling after 1st trading halt as they seek liquidity: Galaxy Sec. strategist Sun Jianbo
- “There seems to be considerable anxiety in the mkt with investors selling as a preventive measure,” Shenwan Hongyuan Group director Gerry Alfonso
- Investor confidence is on “shaky ground” due to negative factors incl. sharp depreciation in yuan, oil price slump and overnight losses in overseas equity mkts: Central China Sec. strategist Zhang Gang
- Threshold being hit too easily in China, adding “liquidity fears” in mkt: Catherine Cheung, Head of Investment Strategy & Portfolio Advisory at Citibank Global Consumer Banking
Crude crashes to a $32 Handle...
Gold just surged to $1100...
The entire Chinese stock market has been halted on half the trading days in 2016
The punishment will continue until The Fed unleashes QE4!!
* * *
*CHINA STOCK SLUMP TRIGGERS TRADING HALT AS CSI 300 FALLS 5%
US Equity markets are tumbling...
And USDJPY is in free-fall...
Someone just stepped into support the Offshore Yuan...
As we detailed earlier:
Following the collapse of offshore Yuan to 5 year lows and decompression to record spreads to onshore Yuan, The PBOC has stepped in and dramatically devalued the Yuan fix by 0.5% to 6.5646. This is the biggest devaluation since the August collapse. Offshore Yuan has erased what modest bounce gains it achieved intraday and is heading significantly lower once again. Dow futures are down 100 points on the news.
PBOC fixes Yuan at its weakest since March 2011... with the biggest devaluation since August
And Offshore Yuan collapses...
This all has a worrisome sense of deja vu all over again... We have seen this pattern of money flow chaos before... Outflows surge from China, send liquidity needs spiking, which bleeds over into Saudi stress (petrodollar?), causing unwinds in major equity markets (thanks to deleveraging of carry trades) in China and then US stocks...
Chinese stocks are opening down hard:
- *SHANGHAI COMPOSITE INDEX FALLS 4.01%
- *SHANGHAI COMPOSITE EXTENDS DROP TO 10% BELOW DECEMBER HIGH
- *HANG SENG CHINA ENTERPRISES INDEX FALLS 3.03%
- *CHINA CSI 300 INDEX FALLS 4.05%
Hold your breath. Dow futures plunged 100 points on the news...
(39 votes)
»
- Login or register to post comments
- Printer-friendly version
- Send to friend
- advertisements -
And now oil capitulating. Looking good for his (at the risk of sounding like fucktard Cramer) thesis.
"We devalued some folks labor." Vice Public Security Minister Lord John Maynard-Meng-Qingfeng Keynes ;-)
Wait a minute. Is this a repeat post from last night? I could swear I read the same thing this time yesterday.
Deja vu all over again I suppose.
The question is what are you going to do about it? You gonna buy some more stocks?
Socks? Nope. I have plenty.
Oh, stocks. Nope. I'm fully 'stock'ed with bathroom tissue.
Weed and lube. Allz I need.
I can understand the lube. Obama has been sticking it to us for hte past 7 years.
Oh dear. The big bad black president is hurting your little feelings.
Before Obama was sticking it to us it was Bush. And before Bush it was Clinton. And before Clinton it was another Bush. And before Bush it was Reagan.
The fire has been burning since 1913.
First of all he's half black, 100 percent puppet traitor. I know the history thanks. Bush sucked, Obama is 10 times worse. Also, like Obama, I'm a sociopath - I have no feelings. That's the 1st thing you better know about me.
It's a start. Give it a few decades you'll be just like me. Completely dead inside.
Excellent back & forth above.
"Muchos verdes!"
Yes, great banter in this thread.
I was born jaded, a caul upon me.
The doc/surg slapped me and I just gave him a really nasty look.
That was totally unnecessary I thought.
A scorched hulking wreck of anger and cynicism.
"nothing really matters , anyone can see, nothing really matters - to me ". queen/freddy mercury/bohemian rapsody
the magical phaggott mulatto theme song.
The first thing you need to know about me is that I despise the proletariat probably more than do the elite.
The simple shits that overpopulate this dump know the name of the 3rd string quarterback for their favorite football team but are clueless as to their elected officials and anything going on around the world.
Right now the idiots where I live are obsessing over the Steelers playoff game this weekend while China devalues its currency and North Korea tests H bombs.
That is what blind nationalism will get you.
Common ground! I hate sports more than you could ever know and I'm heterosexual too.
Sports I can take. I'm watching a little soccer right now. Everything in moderation though. Like Confucius say.
Watching soccer and watching markets plummet. Fun times for a Wednesday night. I have varied interests.
Well I can't stand the NFL...started by the skull and bones in 1898 to distract from what's really going on.
Ahh! The good ol' skull and bones. Brings back memories of the 2004 election between Kerry and Bush. That's when the farce was completed.
We have common ground in our hatred for the NFL.
I would have to agree. Here are my hobbies in no particular order.
Bashing Obama or any president, bashing the FED, shooting guns, going for walks, bashing sport dorks, going to church, visiting my BOL, preparing, commenting on ZH, trolling, sometimes boning my Wife. That's about it.
Just sent your post to your wife. :-)
I do the first two, definitely not the third, I do the fourth and fifth, DEFINITELY not the make-believe-creature-in-the-sky worshipping, and some of the others. Occasionally, I give my hubby a good dicking. I listen to Casey Kasem shows to make the day go faster and happier at werk. Once in a while, I go to the bathroom. (Old joke from the TV show "Soap".)
That's about it.
Dude, for real...you need to shoot a gun and at the risk of offending you - either you or your boyfriend shoots a gun every once and a while. Might as well try the real thing. I assure you, once you shoot a gun you WILL want to do it again and again.
No offence. I really don't offend easily. I just can't deal with ignorance.
I was coerced into shooting guns as a child, and HATED it. Never got the desire to shoot an artificial gun when the real thing hangs between your legs.
If we used THAT one more often either on our own or with someone else, I think we'd have a better world. Hell - it couldn't hurt. Well, sometimes it could, depending on what was taking place. But I digress.
More cum, less bullets. But religion is here to control our use of the former and goad us toward using the latter. Opiate of the masses, nothing else.
Hey, if I can converse with you and you can convese with me - we are both making progress. I never grew up around guns. But after I shot one I loved it. I think you should revisit it.
It's like a therapy session of sorts. ZH: Bringing people together.
Maybe a handgun but never anything else. My best friend carries. It doesn't offend me.
I really do hate guns. It would just go against my morals to have one.
Morals. What a dumb word. I'll keep an open mind, 'cause that's how I roll.
Hubby coming home soon. Second shift janitor. I bid you a good night.
You two need a room and some KY icy hot. Personally, I like the icy...but first time you get to pick cuz your the bottom.
You lost me at "going to church" For that you get one downvote
Maybe you are latent :)
Nationalism? I would think a highly nationalistic people would be putting their country first, sacrificing for the fatherland, something we see NOWHERE in the USA. Nihilism is NOT nationalism.
Blind nationalism and the nationalism you're talking about are two wholly different things.
Big bad black president that was crying on TV last night? Either he is the worst prez or biggest wuz prez for sure.
Boehnerbama
I'm certain that a reporter will ask him at his next press conference if he cries for all the women and children in the middle east that he drones, and all the Iraqis he's bombed.
Did anyone catch Wayne calling out O'Buttfucker? Damn good stuff.
http://youtu.be/qgr2lj7jwr4
I joined last night night. Everyone needs to join the NRA and GOA NOW.
"Oh dear. The big bad black president is hurting your little feelings.
Before Obama was sticking it to us it was Bush. And before Bush it was Clinton. And before Clinton it was another Bush. And before Bush it was Reagan.
The fire has been burning since 1913."
Obviously 9 of the 12 Regional Fed Presidents have chimed in for the negative, Mark.
Yer fave stock Macy's was sub $6 when Obama took office and now it's $36.
And how much has that cost us?
The real question is how hard would you be bitching about Obama right now if it were still $6.
All metrics point to a correction. get on board.
Bye bye WTI.
Bye bye Bloomberg Commodity Index.
Bye bye whoever is holding these non-preforming loans.
Oh, wait. That's me and you. Thanks to these central bank fucks and reach of their tenactales.
Bye Bye Central Banks. Reap what you sow.
Thank you, exactly! For some reason everyone in zh and most other financial/econ sites seem to forget, or not even realize, that China is the biggest commodity economy on earth. Just go down the left-hand 'Product' column list on this link, and look at the global production graphs for each one of them, and take note the scale of Chinese commodity production.
China = giant commodities producer, and not only a giant commodities consumer.
So if all that stops and falls to much lower levels for around two decades (not that unusual in the wake of past major booms) who's going to get hurt the most in a general global commodities bust?
China? Or its more diversified foreign suppliers?
By about an order of magnitude more than any other resources economy.
People just don't think about China in that way, but they should.
So this is not necessarily 'irrational' market behavior if the massive Chinese resources economy, and the directly connected export economy are both having serious troubles. Because that huge commodity production capacity is going bk, due to lack of demand, if an export collapse intensifies.
Yeah, and let's not forget about the the construction sector. They have over-stimulated construction in the past because the commodity input prices for construction will plummet, as energy and transport, already have. So they will try that again to pump prime, and thus balloon more debt. But what can they construct, this time? More ghost-cities, more freeways? Windmills? More giant hydro systems? More freeway roads to nowhere?
Look at the stunning pollution and widespread corruption that the last bout of massive stimulation(s) produced.
The economic and financial crash will be monumental, biggest in human history, in China alone.
Hence all the past sustained massive desperate attempts to stimulate in China, at all costs.
Cover your butts.
Prepare your country.
Ah, you've asked a question that I can answer. What can China construct? Behold:
http://40.media.tumblr.com/2e841281aafd25a3643e642b3085b821/tumblr_o0hud...
Well, ... yeah ... there is that! bwwwhahaahhaaaaa!!
Please don't encourage them Tinky. :D
(maybe the Taliban will sort it out, they're just next door)
thanks Tinky - no words for that pic
Shouldn't we be hearing about the coincindental warehouse explosions?
- and coincidental bathhouse explosions
This April Gold Benchmark devaluation peg is gunna be a big deal.
ITS COMING !!!!!!!!!!!!!!!!!!1111111111
8:41 eastern, local.
China crashing. Just watched it drop 200 points in 3 minutes.
8:44
Down 4.19%. Looks like they shut er down.