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)
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(Ding! Ding!...crackling mic)
"This is your captain speaking again. Ok, so, as you all have no doubt now noticed after our recent plunge in altitude through "an air pocket" this morning, our port engine is gone and our starboard engine is running at 25%. I've radioed ahead to Wall Street International Airport that we need the runway cleared immediately and to have ambulances & fire trucks standing by.
PLEASE-DO-NOT-PANIC!
And as always, thank you for flying Keynesian Airways.
Ok Mike, got the chutes?
Dammit!"
(Ding! Ding!...crackling mic)
Trish Regan: Just stay focused on my tits and stay calm.
Not much to look at with Trish's rack... Better off to panic and sell everything ...
Liz Clayman.
Michelle caruso-cabrerra looks like she keeps the change & has the biggest rack.
Cleavage!
And for the sake of all the crony paper markets & genuinely unemployable economic ReTaRdS on TV we hold dear...BUY STAWKS!!!...lmao!
Will do
Veeery funny! Good one !
Ding! Ding!...crackling mic)
"This is your captain speaking again. Ok, so, as you all have no doubt now noticed after our recent plunge in altitude through "an air pocket" this morning, our port engine is gone and our starboard engine is running at 25%. I've radioed ahead to Wall Street International Airport that we need the runway cleared immediately and to have ambulances & fire trucks standing by.
PLEASE-DO-NOT-PANIC!
And as always, thank you for flying Keynesian Airways.
Ok Mike, got the chutes?
Dammit!"
(Ding! Ding!...crackling mic)
Surely you can't be serious ?!
I am serious. And don't call me Shirley.
Whew there for a minute I thought this article said this was the biggest drop since Lehman. As long as honorable people like John Corzine are breathing then all is ok in the world.
It's Jon, not John. But yeah.
Maybe he meant Traitor Corzine is with a prostitute
Ashole vs Asshole.
Either way you get the picture re: Corzine.
I hear Bernanke is looking for work. Maybe he can "help".
Oh Shit.
Is it finally, maybe happening? You gotta figure the US/EU/western markets will have at least a few months of a buffer before they crash afterwards, but damn. Maybe things are starting to heat up. I won't hold my breath, but maybe. It has been over 7 years now, cycles tend to last ~7/8 years!
Spit my fruit loops all over my screen the other day. Some expert on Bloomberg tv said that this is just a temporary lull as China transitions to a service economy. The spitting came when he then stated (with a straight face) that we all know that service economies are more beneficial than manufacturing economies. We all know that???
I saw that too and thought the same damn thing. You can't get honest fucking information (genuine facts) anywhere any more. Go to CNBC and damn - what a bunch of stupid fucking shills they have there. We're surrounded by whack jobs!
It's 2016 where the fuck ya been?
lol...yeah, cuz who needs to manufacture stuff for a service economy to work & sell shit, when you can just add a pin stripe to old stuff and call it hedonics!
Hey! What happened to my wall plaque from Princeton? Somebody stole my fucking economics degree! ;-)
the jokes on the other guy
who's dumb enough to want a economics degree, you can't even eat that thing
and who was on the cover of your cereal box?
had to be Catilyn Jenner -
Wheaties is so 20th Century
That's why he's a talking head pundit and you aren't. More of the world 100% upside down.....
Just glad my pension is safe...I'll be needing it soon!
safe money...RIGHT?
LOL....It would be funny if WilliamBanzai7 would install Ben Bernanke into that picture of the Chinese women traders!!
shitake mushrooms....that did not take long. I usually don't check on China until they have been open for an hour. Hokey Fokey. That took a half hour.
Their PPT just sux!
The godless commies do not appear to be able to do 'capitalism (with a Chinese touch)' very well. If you can't control a 'free market' then you need to go back to centralized planning....like we have..
Might have to send Kevin Henry's ass to China to teach the Chicom's now to really manipulate and PPT a market.
Sorry to have to ask this, but other than PPT being MS PowerPoint, what does PPT mean?
Plunge protection team. Seriously, that's it.
Plunge Protection Team - basically your government printing even more money to buy Stawks on days when the market is taking a beating.
In a nutshell, market manipulation.
Bullshit newbie. I have MY OWN plunge protection team. That's what I call the geese that live right where I had my boating accident.
Mine's a box of rubbers.
Thanks, guys.
Brother can you spare a 1/10 oz. Eagle...?
(I'll take a Panda if that's all you gots...)
Boom, broke $1100. Yay. I think.
Yeah by $0.10 but mabe a short squeeze here. Without a major black swan it may have to have one final crash. Don't bet the farm. I haven't noticed any capitulation.
I'm not betting anything other than what's at the bottom of the late already.
It's still my belief we see an 8-handle before the main event, and that's when I will try to blow what dry powder I have, though I have doubts about delivery.
FOFOA thinks something similar: Big decline in "paper gold" (gold price), maybe to $400 or lower. When the GLD (and everyone else) have to settle as they are dissolved, they will pay in $$$, not in physical.
At $400, gold goes into hiding... It will be gone.
Until the big reset.
fofoa.blogspot.com
It was 250-300 around 99' and you could have bought all you wanted.
Somebody is overriding digits on computers.
How could a cheaper yuan cause dxy to drop?/ it should have looked higher.
This makes no sense
Geez, they must have a bunch of Bush People running the China....
Don't those idiots even know how to set up a front running, algorhithmic, free money for the 1% machine?
Sounds like it's about time for a few more random Chineese chemical plant / warehouse explosions......
Yeah, I`m just waiting on the FED to start buying Chinese stocks.......
Circuit breaker kicked in after only 30 minutes
What a way to run a railroad........
Lets try Nasdaq down 7% for $10,000.... Alex
Actually that would be another Trillion......in paper loss`s......
I just saw a pack of Chinese traders carrying meat cleavers on their way to Macy's
slashing prices no doubt.
Chanos is smiling
Sum ting wong
What the hell is going on? All those graphs in the article look like North Korean TV test patterns.
I can't decide whether the Chicoms have lost it or if this is deliberate subterfuge to tank the West and intro a gold backed Yuan.