Chinese Stocks Plunge Below Key Support, Global Tech Wreck Escalates

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...

Comments

DEMIZEN Tue, 12/05/2017 - 22:52 Permalink

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.

xrxs Tue, 12/05/2017 - 23:28 Permalink

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 Wed, 12/06/2017 - 00:08 Permalink

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 ? 

truthalwayswinsout Wed, 12/06/2017 - 05:53 Permalink

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.