China Halts Trading After Market Tumbles More Than 7 Percent
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Solomon2
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The good news is that markets are starting to think yesterday's issues were due more to "technical problems in the design" of China's stock market system (which can be fixed), rather than gross incompetence of Chinese officials (which would be considered more of a problem).
C130
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China-India Economic Corridor
now that would be interesting. think China wants to get into India via HSR and some other projects.they defiantly need to export growth while building in China slows down.
Keel
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Credibility can be re-established in no time
Just stay watching
yes, plenty of them
read the recent history of China to get an idea
I have answered you sir.
The bourses in USA like NTSE has been in operation for 2 centuries.
Think about that and review the chart which I posted @87 above pls
,
Jlaw
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Credibility can be re-established in no time
Just stay watching
yes, plenty of them
read the recent history of China to get an idea
I have answered you sir.
The bourses in USA like NTSE has been in operation for 2 centuries.
Think about that and review the chart which I posted @87 above pls
,
Blame it on the stupidity of China's government. Their media is feeding the frenzy. Look at Xinhua, CCTV, SCMP, etc
Economic Watch: China's economy, growing pains and gains
China suspends stock market "circuit breaker" <--notice the ""LOL
do you see RT having headlines
"Russia Economy will crash Without Chinese Help"
"Russia on verge of Collapse"
"Russian Ruble drops 40%"
Only in China.
Keel
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Blame it on the stupidity of China's government. Their media is feeding the frenzy. Look at Xinhua, CCTV, SCMP, etc
Economic Watch: China's economy, growing pains and gains
LOL
do you see RT having headlines
"Russia Economy will crash Without Chinese Help"
"Russia on verge of Collapse"
"Russian Ruble drops 40%"
Only in China.
We are seeing people who dont have enough calcium in their bones, pretty brainwashed should I say
There are a lot of stupid people around town just take a laugh at it
.
Solomon2
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China shares tumble in late trade as Asia markets sell off
Saheli Roy Choudhury | @sahelirc
1 Hour Ago
Chinese markets extended an already rough start to the year Monday, losing further ground after another sell-off in late afternoon trade that sent mainland indexes down more than 5 percent.
The Shanghai composite tumbled 168 points, or 5.29 percent, to 3,017.99, while the Shenzhen composite plunged 130.61 points, or 6.6 percent, to close at 1,848. In afternoon trade, Hong Kong's Hang Sengindex closed down 2.7 percent, slipping below the 20,000 threshold for the first time since June 2013.
The rest of Asia also closed down, with Australia's main ASX 200 index continued its downward slide, ending 58.63 points, or 1.17 percent, lower at 4,932.20. The energy, materials and financials sectors weighed, with those indexes down 1.8, 2.95, and 1.27 percent respectively.
In South Korea, the Kospi shed 22.78 points, 1.19 percent, to close at 1,894.84 on Monday's session, with commodities sectors seeing early losses.
Mainland brokerages suffered steep losses, with shares down as much as 9 percent at market close. Citic Securities' mainland-listed shares were off 7.01 percent, while its Hong Kong-listed ones fell 3 percent. Airlines stocks on the mainland traded mixed, between up 3.72 and down 1.54 percent. Airlines tend to see an earnings boost when oil prices fall.
Beijing guides the yuan higher
On Monday the People's Bank of China (PBOC) guided the yuan higher by setting the mid-point fix at 6.5626 against the dollar. On Friday, the midpoint was fixed at 6.5636. The yuan traded at 6.5818 against the dollar.
The yuan-based Hong Kong Interbank Offered Rates (Hibor) spiked to over 13 percent from 4 percent Friday as offshore yuan volume declined.
Last week, the Shanghai Composite lost all of its 2015 gains, falling by 9.97 percent in just five days. Trading in Chinese markets was halted twice last week by circuit breakers - a market-calming regulatory tool - that were only implemented in the country at the start of the week.
The circuit breakers were designed to trigger a 15-minute trading halt if the CSI 300 index fell 5 percent. If that index moved by 7 percent, trade was halted for the rest of the session. By the end of the week, China suspended its circuit breakers, but investors remained wary over the country's ability to handle financial turmoil.
Experts said the ongoing crisis in Asia's largest economy would have bigger, broader implications about the region's economic prospects.
Taimur Baig, chief economist for Asia at Deutsche Bank Research, said in a note on Friday, "The key risk is China, where fears of continued economic slide are causing capital outflows, exchange rate depreciation, asset market selloff, and policy dilemmas."
Baig noted that while this might not halt economic growth in the mainland, with large parts of the economy operating independently of the country's stock markets, it would hurt sentiment -- not just in China, but also in rest of Asia, causing possible deflation, credit crunches and policy challenges...
Saheli Roy Choudhury | @sahelirc
1 Hour Ago
Chinese markets extended an already rough start to the year Monday, losing further ground after another sell-off in late afternoon trade that sent mainland indexes down more than 5 percent.
The Shanghai composite tumbled 168 points, or 5.29 percent, to 3,017.99, while the Shenzhen composite plunged 130.61 points, or 6.6 percent, to close at 1,848. In afternoon trade, Hong Kong's Hang Sengindex closed down 2.7 percent, slipping below the 20,000 threshold for the first time since June 2013.
The rest of Asia also closed down, with Australia's main ASX 200 index continued its downward slide, ending 58.63 points, or 1.17 percent, lower at 4,932.20. The energy, materials and financials sectors weighed, with those indexes down 1.8, 2.95, and 1.27 percent respectively.
In South Korea, the Kospi shed 22.78 points, 1.19 percent, to close at 1,894.84 on Monday's session, with commodities sectors seeing early losses.
Mainland brokerages suffered steep losses, with shares down as much as 9 percent at market close. Citic Securities' mainland-listed shares were off 7.01 percent, while its Hong Kong-listed ones fell 3 percent. Airlines stocks on the mainland traded mixed, between up 3.72 and down 1.54 percent. Airlines tend to see an earnings boost when oil prices fall.
Beijing guides the yuan higher
On Monday the People's Bank of China (PBOC) guided the yuan higher by setting the mid-point fix at 6.5626 against the dollar. On Friday, the midpoint was fixed at 6.5636. The yuan traded at 6.5818 against the dollar.
The yuan-based Hong Kong Interbank Offered Rates (Hibor) spiked to over 13 percent from 4 percent Friday as offshore yuan volume declined.
Last week, the Shanghai Composite lost all of its 2015 gains, falling by 9.97 percent in just five days. Trading in Chinese markets was halted twice last week by circuit breakers - a market-calming regulatory tool - that were only implemented in the country at the start of the week.
The circuit breakers were designed to trigger a 15-minute trading halt if the CSI 300 index fell 5 percent. If that index moved by 7 percent, trade was halted for the rest of the session. By the end of the week, China suspended its circuit breakers, but investors remained wary over the country's ability to handle financial turmoil.
Experts said the ongoing crisis in Asia's largest economy would have bigger, broader implications about the region's economic prospects.
Taimur Baig, chief economist for Asia at Deutsche Bank Research, said in a note on Friday, "The key risk is China, where fears of continued economic slide are causing capital outflows, exchange rate depreciation, asset market selloff, and policy dilemmas."
Baig noted that while this might not halt economic growth in the mainland, with large parts of the economy operating independently of the country's stock markets, it would hurt sentiment -- not just in China, but also in rest of Asia, causing possible deflation, credit crunches and policy challenges...
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