Do you have a link to that? Sounds like an interesting story.
Here's one link -
http://www.reuters.com/article/2015/05/29/markets-china-bank-stakesales-idUSL3N0YK0B520150529
A further 25% of stocks have undergone 'voluntary suspension' and have not traded this morning!! Company board members could have allowed their companies to trade but that may have lead them to becoming involuntary organ donors.
China Trading Halts Leave 43% of Entire Stock Market Frozen" Bloombergs as read on http://finance.yahoo.com/;
that is a sizable chunk indeed, wonder what is still trading?
CanOz any news as seen from the floor?(I assume you are on Mainland China?)
11:05(CN) Follow Up: China Securities Finance said to seek at least CNY500B to support market - US financial press-May seek from PBOC and tap interbank market. - Source TradeTheNews.com
Nothing to report here mate, the ridiculous amount of construction & environmental destruction continues unabated...i can hear the thump of the pile driver from my desk. Looking out my kitchen window alone i can see 13 construction cranes (national bird of China).
Which city are you based in if you don't mind me asking?
What happened? Experts identify several causes. China's slowing economic growth is one. Risky trading practices are another. All along, bullish propaganda by China's state-run media helped drive people to invest.
The downside of a command economy
http://money.cnn.com/2015/07/07/investing/china-stock-market-crash/index.html?iid=EL
You will never be the economic power house without transparency, free speech and genuinely free markets.
The downside of a command economy
http://money.cnn.com/2015/07/07/investing/china-stock-market-crash/index.html?iid=EL
You will never be the economic power house without transparency, free speech and genuinely free markets.
China has lost over US$4trln in 4 weeks: that is more than the total mkt cap of the CAC 65% of NKY & 3.6x more thn total mktcap ASX
CHINA'S STATE ASSET ADMINISTRATOR COMMANDS CENTRAL GOVT-OWNED FIRMS TO BUY THEIR OWN STOCK TO STABILISE SHARE PRICE
Let's hope the next order from State Asset Administration is not - "Sell your Sydney apartments and buy Chinese equities."
We've got a house hunting trip scheduled for end of the month, perhaps they could organise it in time for that?
China Trading Halts Leave 43% of Entire Stock Market Frozen" Bloombergs as read on http://finance.yahoo.com/;
that is a sizable chunk indeed, wonder what is still trading?
CanOz any news as seen from the floor?(I assume you are on Mainland China?)
I remember shorts being banned on the ASX during the GFC, but this is pretty different... Has anyone encountered anything similar in other markets? What was the outcome?
I guess they can halt trading in 100% of stocks and that would ensure 'stability':
Most markets have some sort of limit down amount on stocks and futs. But this is being handled about as bad as it could be. If you did have holdings in stocks that still are trading you would be thinking of pulling out now while you can.....I remember shorts being banned on the ASX during the GFC, but this is pretty different... Has anyone encountered anything similar in other markets? What was the outcome?
I guess they can halt trading in 100% of stocks and that would ensure 'stability':
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