China's "S&P" Limit Up 10%, Banks Plunge 5% As Xinhua Confirms "Stock Market Stabilized"

Presented with little comment aside from a snarky glare as Xinhua's headline "After a roller coaster rush since July 2014, China's stock market has stabilized and risks have been released to some extent, the securities regulator said Sunday." CSI-300 was limit up 10% shortly after the open, then was hammered 5% lower. CSI Banks Index is down 5% and Shanghai Composite was not as easily manipulated and is down 0.5%!!

 

 

But China Banks are geting hammered...

 

Who was responsible for the magical levitation? Simple!!

Spot The Difference!

 

Welcome to the "markets"

 

Charts: Bloomberg