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China's Shanghai crash of 2015
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China's Shanghai crash of 2015

  #1 (permalink)
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China's Shanghai crash of 2015

We need a thread to discuss what is going on on the Shanghai index in China. I don't monitor this exchange normally, but recent developments are hard to miss.

The index is down over 30% in a month, and efforts to prop it up by the government are failing so far.

Mike

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  #3 (permalink)
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The latest overnight:

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Mike

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Please correct me if I am wrong, I'm not an expert in these markets nor do I actively monitor them.

This bubble has been exploding recently, and is now being deflated. Nearing the YTD open and low.

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Mike

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Market Wizard
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The downside of borrowed money when trading stocks

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Chinese "investors" were mostly pensioners scammed by Brokers. Just google Chinese retail investor and you will see who was trading stocks. Is it really that surprising it crashed? Textbook pump-and-dump

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Big Mike View Post
Please correct me if I am wrong, I'm not an expert in these markets nor do I actively monitor them.

This bubble has been exploding recently, and is now being deflated. Nearing the YTD open and low.

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Mike

It doesn't look like a crash to me - just looks like a correction. It's only taken back the gains this year.

I'd like to see it at 2500 and then I'm buying.

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DionysusToast View Post
It doesn't look like a crash to me - just looks like a correction. It's only taken back the gains this year.

I'd like to see it at 2500 and then I'm buying.

The government would disagree with you, given their desperate actions -- which are likely to make it even worse, since those actions are a combination of insufficient and overstepping.

Mike

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  #9 (permalink)
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Markets need to be left alone, if theres a bubble let it crash. Government intervention propping up a bubble only means its gunna be bigger before it bursts.

Understanding yourself is just as important as understanding markets.
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  #10 (permalink)
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Absolutely terrible. We discuss it here on the desk every day because our economy and incidentally a lot of our client positions are tied to China through resource stocks such as BHP/RIO and Iron Ore.

The main theme is that we knew it was coming, and if you jumped on you are taking a hell of a big risk. Due to the fact that 80% of the volume is retail and not insto, it's subject to massive swings in irrational stampeding.

Right now the route is due to a cascade of margin calls, which the PBOC has tried to stop. I think any stop to the bleeding will be temporary... Not sure where the bottom is but I don't think it'll be here.

What PBOC is doing now to try stop the route is damaging their credibility, rigging the market with a fund setup by brokers, major holders banned from selling shares for 6 months and trading halts on half the stocks on the index is direct manipulation. They don't even try to hide it... puts in to perspective what "free markets' mean in China and what it means elsewhere.

Who will pay for all of this? The poor retail people who plowed in their life savings and leveraged it up... such a shame.

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