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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Once a sweetheart, now a brain-dead crack whore.
Fun day in OKC, delisting followed by about 40 earthquakes
If China would just round up all their traders maybe their stocks would stop going down every day. You know, kill the market to save it?
/SARCASM
Nothing builds confidence like executing malicious sellers.
Been long on DOG, that's an inverse DOW ETF thingy, I think. Time to collect, perhaps.
Artificial trading halts are the same as 'temporary' bank closures to halt BANK RUNS.
Both only cause MORE FEAR and worsen the following plunges. They do NOT REMEDY THE UNDERLYING FUNDAMENTAL CAUSES.
The fear of being TRAPPED on a FALLING ELEVATOR. The panic as people beat at the doors and finally the stampede when the doors are eventually opened.
Two Words:
Fundamental transformation.
One day the market will break permanently.
im sure these fuckers would close the ''markets'' if it were up 7 percent. NOT
WHAT A FUCKING JOKE. THESE ASSHOLES DONT REALIZE IT ONLY WORSENS THE PROBLEM, NOT SOLVES IT
Problem in China 80% of the traders are retail.... they are screwed, exactly the scenario in 1929 btw...
Problem with China now is also the impending death of the retail consumer. That smog people see everywhere? It's actually the financial twilight zone, about to engulf the entire country, for years.
Not necessarily. They could let it happen quickly, get out of the way and allow people to pick up the pieces afterwords. Over in a year...
LOL.
2000 first week trading down 4% 2008 first week trading down 3.5% so far DJI down 3.2% as of today (Wednesday) after tomorrows trading will be inline with the other 2, does not bode well for the first q at least, probably a 20% correction in the cards coming, once the earnigns start coming (or lack of earnings) it will start to get really ugly....
The shit-fan irony is that China may now actually have to sell physical gold. Don't celebrate just yet.
Guaranteed they will sell worthless US paper first, and if memory serves me correct they own just a bit ...
I'm sure that Yellen and the US will buy it back, at a discount, no less. /sarc
how many halts will it take for...NIRVANNA!!!!!
How many Communists does it take to create a Utopia?
Are you talkiing live ones or dead ones? It does make a difference, you know.
Good point. I think history shows that you need a few of the former and tons of the latter.
WTI = 33.16 and falling . . .
Looks like a China in a bull shop
Looks like a China in a bull shop
Looks like a China in a bull shop
More like China in a Bull stop.
You can say that again...
Fk the chinese fking us people, come on wake up dudes china nk wants a war, give it to them...... guns
I think I read somewhere, recently (ZH), that the order went out to "sell the rallies".
If that's true, then I think TPTB have decided to finally burn this motherf*cker down?
Just as King Obama declares laws against the 2nd Amendment (1st Amendment is next, 4th Amendment went bye-bye post Boston Marathon Bombing).
Ho lee fuk
Long Shorts (a deal on cut-offs)
It will be interesting to see if this is finally the beginning of the loss of control by central planners globally who have manipulated markets for so many years now. History tells us that the day will come when the levee finally breaks, the central planners lose control and the markets finally clear. Only then can things begin to heal. The amount of capital misallocation globally from the developed to the emerging markets is stunning.
In the United States I sit in awe watching 0% VA loans, subprime auto loans, record high real estate valuations, and record high stock and bond prices as a result of a sociopathic Federal Reserve board that just loves their bubbles. All this is going on while the movie The Big Short tells us how stupid we were not to see the last bubble. And Bill Clinton may be back in the White House banging interns.
I just can't take it anymore.
I wonder if our rapidly becoming a world of autistics (like Michael Burry) is natural selection at work, immunizing us from these central planning mind fuckers.
I kind of wondered the same thing as I watched the Big Short. It is like Baum and Burry were innoculated against the lemming financial impulses.
What got me is that essentially nothing changed. The same morons, intellectually and morally deficient people are mostly still there.
I got my home equity loan last year. Decided not to upgrade and told the realtors it was going to happen again. All but two thought I was just a pessimist.
Game over, stocks down, gold up 0,0002%, ZH wins
Maybe the Fed and the PPT can help China as well since they love to print and hide these off-balance sheet.
American Company CEO's, overseas, are panicking and calling their HR departments:
"Quick, hire as many skilled factory laborers and skilled programmers as you can, today, back in the States! We've got to bring the jobs back to America before it's too late!"
HR response:
"Sir, there aren't any skilled laborers left, and all the recent college-grad US programmers want to do is create driverless cars, build games for XBOX, and more apps for your stupid phones. Sorry, sir. You'd better sell your helicopter while there's still a buyer out there who can afford it."
I'm not sure if I'm trying to be cynical? This just kind of popped into my head.
I guess I'll let the up / down votes decide whether I was right about anything here, or not.
Most of the really shitty code i've had to fix in recent years? - written by Indian and Chinese programmers.
(Russians are mostly decent at coding)
(Chinese are the worst)
Lucky for me, all the code I write is 100% my own. Lately, I've been working on entirely new stuff using MVC 5 and Azure sites. Pretty enjoyable, actually, after spending years creating 100% full-blown Windows applications.
Open box of mags...drill out limiting pin...load 30 rounds repeat...
Okay, I'm ready shtf!
What limiting pin? All my PMAGS are 30 rounds and loaded with M855 62gr 5.56x45mm steel penetrator green tips!
Limiting rivets, etc. are for those of us in the Communist Republik of Kalifornia.
Good thing my gold teef are about to fall out. God damn hockey sticks.
New rules.......Major shareholders can only sell 1%, and must give 15 days written notice........Ain`t communism grand?.....
The marxocrats will have an orgasm over such control of a market in China.....
The entire basis of the system is rotten. No country, whatever its economic system claims to be, can long survive if the supply of money and debt grows exponentially. At some point, the real economy grows more slowly than the fake paper economy, and claims on wealth dwarf the actual physical wealth itself (factories, farmland, mines, vehicles, etc.). The problem stretches much further back than the "marxocrats" or the Republicans.
The dawn came late, and the breakfast had to wait ...
Fellows it's too rough to feed ya ...
Fellas, it's been good to know ya ...
https://www.youtube.com/watch?v=K6DUFPNILvM
HA HA! Die you dirty commies.......Um.......Wait..........What? Fuck, my 401k just lost most of its' value. Hello retirement at 95YO. Hooray! Keep pushing that paper, daddy needs some ALPO!
lmfao.....Alpo.....WTF
Made in America Arf!
I'll be fighting our cat over the Friskies Tasty Treasures. Made with real bacon, you know.
I'll be eating cat.. my neighbor on the other hand will be eating left over cat food..