Global Plunge Protection Team Rescues Chinese Stocks Back To Unchanged At Break

In what appears like a coordinated USDJPY-driven intervention, the Panic Plunge Protection Team has swung into action not once but twice tonight so far. After China opened down between 5% and 7%, and initial momentum bounce from USDJPY failed onlyt to be followed by a bigger more energentic push to get Shaghai Composite back to unchanged... but Chinese stocks are once again losing momentum...

Double PPPT effort tonight...Spot The Difference

 

But it appears to be fading fast... as dip-buyers cover into the government buying

 

We're gonna need moar JPY selling...

MUST.REGAIN.CONTROL... MUST.SHOW.OMNIPOTENCE... #FAIL

  • *CHINA'S SHANGHAI COMPOSITE FALLS 1% TO 3,688.48 AT BREAK
  • *CHINA'S CSI 300 INDEX FALLS 0.2% TO 3,810.65 AT BREAK

 

Charts: Bloomberg