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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This is fucking awesome....................I guess all those ghost cities throughout China finally caught up to them.
Fuck, and 20/20 did their piece something like 3 years ago. Took a while!
Wow, I bet the China government really regrets introducing its whole population to stock trading!
Now the regular people are saying "Screw you, you can't put us all in jail, there's too many of us. Sell! Sell! Sell!"
#Winning! <------
#Yuaning! <------
Spring vegetable seed catalogs starting to show up in the mail now. I'll be cashing in some gold/silver to order large quantities of heirloom seeds to put into deep storage. Looks like by spring the global economy might be shut down and we'll all have to make do without grocery stores, gasoline and maybe even electricity when the FSA starts burning down the infrastructure. See you guys on the other side.
Man I so hope you are wrong... But Yeah I got Seeds...
If it goes that way, you'll need a gun or two to harvest all the meat. You know, the ones who try to steal your veggies!
Guns? Check, Ammo Check.. Bug out Bag, Reloading gear, Bow Saw Chain saw, wood stove still in the box. haven't owned a TV in 40 years.. I think I'm as ready as I can be.
Now what the fuck are they going to do for the next 23 hours and 15 minutes ????
They will be getting ready to click the SELL button faster than the next guy
That is one kick-ass avatar. Loved those movies.
Excellent comment, as well. It would be worthwhile to take bets on how long it takes to close the markets tomorrow.
French Connection should redo the acronym from their clothing line from FCUK to...
The ghosts are selling.....
Who let them out of their empty apartments?
Rumor on the street has it that diarrhea is running rampant throughout the entire Federal Reserve system tonight. Shame.
There's going to be some " bottom fishers" ...
Dip Shit front men like > master bater of his own universe.
That HUGE spike down, then the covering in WTI? There was a huge bid in the low $32's.. That thing pinged off the bottom.
Moar defaults, tomorrow.
Fuck China. Serves them right for trying to duplicate the (failed) US system. Of course that wasn't good enough, they had to get even a larger bubble than we have. No problem, the dumbasses can just arrest more people.
Our system was doing fine when we made coins from silver, were on the gold standard and there was no NAFTA and China's MFN trade status and thus much less outsourcing.
Now we're all going to borrow a 100K in Student Loans to study Lesbian Dance Theory to replace our lost factory jobs, except it's not working.
Why the desire to write something against gays and/or lesbians when trying to drive home a point?
Why not "Basket Weaving", like certain NFL running backs from the 1970s took in order to graduate from college?
How is Lesbian Dance Theory anti-gay?
You have clearly majored in Microaggresions with a Minor in Trigger Warnings and have obviously excelled at your studies!!!
But I hope you didn't borrow too much money for that degree....
Only 10 yuan.
OK, lesbian Basket Weaving studies.
Let's compromise on Leabian Pubic Hair Weaving.
Back in the 70s those NFL linebackers knew it was safer in the closet. When the SHTF a lot of this PC crap is gonna evaporate quicker than a unicorn fart in a windstorm. To answer your question, because it is still fun to ridicule gays and/or lesbians if you just don't give a shit what others think. I am a white hetero western male and apparently the whole world hates me. When do the chinks start rioting?
"this PC crap is gonna evaporate quicker than a unicorn fart in a windstorm" lol
are you going to change your name Nirpy when the time comes?
Maybe after 5 yrs of NIRP, but I can't abandon a classic name wily-nily (or wily-nirpy)
I thought the Chicom's had run out of stock "sellers" to shoot, but the action this week has proved me wrong.
Never underestimate what a Chinaman will do or risk for to keep or make money.
China is collapsing, Think about it - since when does China ever doing anything suddenly? It's not in their nature. Two days of market turmoil and sudden stops - you get the picture.
Local Chinese investors are fleeing the sinking ship at record levels.
Check the ZH posts for last year. I said in the middle of the year that China was in trouble. That was when China was humming along and nobody was listening. Their banking system is in worse shape now than Wall Street was in 2008. A huge pile of unpayable debts, real estate loans made at ridiculous prices, huge amounts of corruption and fees sucked off by middlemen. It's BEYOND BAD. The citizens know that they are screwed, which is why they are desperate to get their money out ... by any means possible, Kiss the global economy goodbye.
First it was 2008 ... Wall Street
Now it's 2016 ... China
The China-America link is falling apart
Do you have any doubts about why? How can the Chinese sell boatloads of products to 300 million Americans who are dead broke???
REALLY????
Shouldn't the Titanic groan and list for a while before going tits up and racing for the bottom?
I have not yet seen the "reason" for the drop. You know how every day they come up with a reason as if they polled thousands of traders.
However, if it is tied back to the fat dictator in N. Korea he maybe in the most danger ever.
Dow futures currently down 172 to 16666. All those 6's can;t be good.....
Now down to 16,601 at 1:24EST
Yellen will get a phone call if it goes to -300. Not there yet.
Crude going down $1 per day? Eight equity sector indices below their Aug 24 crash close, before tonight's declines? We're headed for a credit event, or more trading halts, or both:
http://m.investing.com/indices/indices-futures
Whats with the fat bitch on stage screaming?
Yellin must be having another press conference.
That's just Hillary. If we all ignore her, maybe she'll go away.
Fuck me check out crude, shit's comming down the pike.
All those people bought electric cars and now w/Uber most city people don't even own cars. I'm whipping out my camera when gas actually gets to a buck and a quarter. Demand to the downside.
Keep it ready. 1.66 in the Centennial State today.
The real economy is tanking. Nobody is buying electric cars. Maybe electric bicycles.
The old norm: "when US sneezes the rest of the world catches a cold"
The New Norm: " When CHINA farts we are in SHIT"
FALSE ALARM, calm down folks, turns out the Onion hacked the exchange and these are really just false flag charts.
Obama will still make his 9am tee time.
The first time I read your post, I thought you said:
9mm tee time. Guess I was just projecting...
They are intimidating everyone not to sell. How long do you think that can last?
Selling your stocks is painted as a breach of party loyalty.
Imagine if the Chinese follow our example.
"It's just a flesh wound!"
A PTT could ramp it back up into the green before the close, but they cut themselves off from that option by their rule. How stupid.
Gold popped up nicely off the 38.2% fibi. Took out the stops above eleven hundred.
Yen is overbought, euro is well above parity with $usd.
I think we're truly fucked, if central banks think they can hold things together.
It's a trading holiday! Yay! Everyone gets to go outside and enjoy the smog!
Time to stack some barrels.
And so long SandRidge. Delisted today.