With shenanigans in precious metals, investors are rushing back into the safety of Chinese high beta idiotmakers stocks...
Shanghai Composite Tops 4000 Once again
[4]
One wonders if gold manipulation played a hand...
[5]
After two days of deleveraging and a squeeze into the expiration of CSI-300 Futures pushing Chinese stocks higher, the grandmas and farmers have decided now is an opportune moment to once again start adding margin debt. Who is to blame? Simple - Chinese officials have confirmed that "the stock market rout is over thanks to their timely measures." Futures opened modestly higher but are fading as the cash open looms...
Rest assured world...
- *CHINA'S ZHU SAYS STK MKT ROUT CEASED BY TIMELY MEASURES: DAILY
And so, after 2 days of rationality, PBOC reports,
- *SHANGHAI MARGIN DEBT RISES FOR FIRST TIME IN THREE DAYS
As the Chinese just can't help themselves...
CSI-300 hovering flat (China's S&P 500)
[6]
CHINA FTSE A50 (China's Dow) lower....
[7]
Finally, here is a brief explanation from Stratfor on the political consequences of China's stock market collapse:
