Chinese Stocks Plunge Below Key Support, Global Tech Wreck Escalates

Tyler Durden's picture

Asia's 'FANG' stocks are tumbling once again as the global tech wreck continues to escalate (TATS down 10% from highs).

Taiwan Semi, Alibaba, Tencent, and Samsung (TATS) are down 7 days in a row and over 10% - the biggest such drop on record...

 

While Chinese bonds are holding back from their 4.00% yield line of doom, Chinese stocks are tumbling with the benchmark Shanghai Composite breaking below key support to 4-month lows.

 

But whoile Shanghai Comp is down notably, it is the tech and small cap heavy Shenzhen and CHINEXT that are getting hit hard...

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LetThemEatRand's picture

Fuck you Bernankesan.

Leveraged Algorithm's picture

Nothing will happen here - central banks are still printing. Do you think Trump will continue to take credit for any 50% correction?

Boing_Snap's picture

Hey didn't you hire Trump to oversee a debt restructuring? He should be taking credit for that.

American Psycho's picture

Just waiting for the A-shares to start tanking.

DEMIZEN's picture

Tech wreck!   nicely coined. nasduck duck go. fang gang.  i asked herardo today where did he learn to fix refrigerators. he said on jewtube.. lol.

MuffDiver69's picture

Wait ...months on end about the end and a 10% correction is a tech wreck..15% would be a nice correction and I’m ready...

idontcare's picture

... would love to p/u some BABA back around 100....

xrxs's picture

Maybe they're slowly letting the air out to give people a chance to delever, social stability being the name of the game.  Seems like things are heating up.

ds's picture

The deleveraging of China as part of its reforms of a Ponzi Economy. Days are still early for the ripple effects. Where are the analysts now and their snake oils on Asia growth ? 

daytradeprofit's picture

look at the shcomp in 2007 compared to bitcoin those days and you will notice amazing similar .....http://www.daytrade-profit.com/2017/11/is-jump-in-price-of-virtual-curre...

Sky flyer's picture

Are banksters not happy with the new joo Capital?

truthalwayswinsout's picture

As for China it is the equivalent of 30,000 BMBs (Bernie Madoff Bombs).

My only issue is when this Depression hits what will they call it: The Great Depression is already taken and this one will be 1000's of times bigger.

Survial will mean no debt, and cash in your matress, a means to defend yourself and a good supply of food and essentials.

0valueleft's picture

They're selling equities to chase BTC. That is what they do. That is what guinea hens do.