China to Take Down World Financial Markets

[CanOz]

Whoaaaa!

The SSE is down 5.71%

Looks like they're getting thier correction...i wonder if it will hit the stops today?

 

[Gundini]

She is in a free fall at the moment, hope we don't catch much of a cold.

I think the ASX built in the fall already... I hope

Index Value: 4,071.27
Trade Time: 11:30PM ET
Change: 263.66 (6.08%)
Prev Close: 4,334.924
Open: 4,087.405
Day's Range: 4070.51 - 4275.24
52wk Range: 1,512.52 - 4,283.93

 

[Gundini]

Here is the link if anybody wants to monitor this...

http://finance.yahoo.com/q?s=^SSEC

 

[Kimosabi]

This has got to suck for the people who opened the 455,111 Trading Accounts - Yesterday

 

[>Apocalypto<]

China

Rasied stamp duty on shares from .1% to .3% today i think, so that could have somthing to do with it.

Indexes Prev. Closing Last High Low Change%
SSE 180 9120.36 8535.63 8973.64 8534.40 -6.41
SSE 50 3050.44 2868.76 3000.94 2868.19 -5.96
SSE Composite 4334.92 4071.27 4275.24 4070.51 -6.08
SSE New Composite 3660.74 3437.28 3611.79 3436.63 -6.10
SSE Dividend 3796.16 3542.51 3770.10 3542.51 -6.68
SSE A Share 4544.48 4269.14 4483.07 4268.34 -6.06
SSE B Share 332.93 303.69 320.93 302.61 -8.78
SSE Fund 3342.30 3128.05 3296.97 3126.41 -6.41
SSE Government Bond 110.71 110.67 110.75 110.63 -0.04
SSE Corporate Bond 120.23 120.16 120.22 120.08 -0.06

any one done a fibb break down of there market to work out 38% 50% support levels? so we know what is fine and what's not?

best place to start don't you think?

** We started falling before china opened so I don't think it had to much to do with us.**

 

[Gundini]

Does China come back from lunch at 3PM our time?

You would think that 6% off today would be enough, so if they rally back to say 3% this arvo, we might get a piggyback rally ourselves!

 

[CanOz]

Does China come back from lunch at 3PM our time?

You would think that 6% off today would be enough, so if they rally back to say 3% this arvo, we might get a piggyback rally ourselves!

13:30 i think.

 

[professor_frink]

2:30 i think.

If the Chinese markets operate the same as the Hong Kong ones, then it will be 4:30.

 

[Gundini]

Yes re-opened 1330 AEST, and continues to fall... -7.3%

Index Value: 4,018.64
Trade Time: 1:06AM ET
Change: 316.29 (7.30%)
Prev Close: 4,334.924
Open: 4,087.405
Day's Range: 4017.97 - 4275.24
52wk Range: 1,512.52 - 4,283.93

 

[KIWIKARLOS]

common guys next hting you'll be saying severe market correction, its rallying back now.

Simply an overreaction to the increase in tax from .1 to .3 %

Bargin time, it'll be choppy for a bit then back to gains.

 

[dhukka]

More up to date numbers available here:

Shanghai Stock Exchange

 

[CanOz]

common guys next hting you'll be saying severe market correction, its rallying back now.

Simply an overreaction to the increase in tax from .1 to .3 %

Bargin time, it'll be choppy for a bit then back to gains.

Its got less than 3% until they start hitting the stops.

They've got until 4:00 to trade too, could keep going....

 

[KIWIKARLOS]

so your saying at 10% peoples stop losses will kick in and it'll be a freefall?

i fail to see how this tax increase is such huge news fundamentals haven't changed all it should do is slow growth not reverse it.

I dare say their gov will act if it doesn't go well.

 

[CanOz]

so your saying at 10% peoples stop losses will kick in and it'll be a freefall?

i fail to see how this tax increase is such huge news fundamentals haven't changed all it should do is slow growth not reverse it.

I dare say their gov will act if it doesn't go well.

No mate, i meant that once they lose 10% they stop trading, just like this one that one of my supervisors bought 2000 shares worth of last week...see where it flatlined....its suspenped from trading anymore today.

Same goes for when they rise.

Cheers,

 

[nizar]

No mate, i meant that once they lose 10% they stop trading, just like this one that one of my supervisors bought 2000 shares worth of last week...see where it flatlined....its suspenped from trading anymore today.

Same goes for when they rise.

Cheers,

Yeh true.
The problem is every1s gonna want to sell 2mrw.
But if the stocks gap down 10% on the open, then

 

[Gundini]

common guys next hting you'll be saying severe market correction, its rallying back now.

Simply an overreaction to the increase in tax from .1 to .3 %

Bargin time, it'll be choppy for a bit then back to gains.

Don't think anyone here is calling this the correction China has to have, but simply watching a 5-6% freefall and trying to predict other market reactions.

I agree it's an overreaction to the 3% tax, but I do look forward to seeing if the DOW pulls back out of simpathy tonight as well. Will make for an interesting day tomorrow if it does...

I'm on the sideline for the moment waiting for the potential bargains tomorrow. Just day traded today...

 

[surfingman]

wow thanks for that info everyone, a very strange setup but I guess what can be done with market as volatile as chinas, could be a scary run in the AU markets for a while if this isnt stabilized...

 

[CanOz]

This is one that my GF has, its about to hit the skids too! Recovered a little, but then down she goes...Its a steel company, not that it matters.

 

[Temjin]

Damn, not enough of a correction here, need more drop so we can buy more bargin Aussie stocks. AORD barely drop just a little over 1% today, another evidence to the positive correlations between global markets.

At crazy times like this, why would you want to speculate in the Chinese market? Human's greed is indeed a powerful thing.

 

[>Apocalypto<]

Damn, not enough of a correction here, need more drop so we can buy more bargin Aussie stocks. AORD barely drop just a little over 1% today, another evidence to the positive correlations between global markets.

At crazy times like this, why would you want to speculate in the Chinese market? Human's greed is indeed a powerful thing.

1% is a fair move in a day for us Temjin.

with that latest high rejected I would not rule out futher downside! Patience is another powerful thing.


China

when there is 1 billion people vs 20 million in oz is 5% & 10% so out of the ordanary when you compare the invester/trader power between us.