Shanghai opens, crashes (updated)

David Llewellyn-Smith

Tuesday, 7 July 2015

Shanghai is now down 3%:

Led by Chinext which is still down 5%:

Unstoppable. From the AFR:

Trading was halted in more than 25 per cent of Chinese listed shares on Tuesday, in what appeared to be the latest government-backed attempt to shore up the country’s plunging equities markets.

The suspension of more than 700 mainly smaller stocks listed in Shenzhen failed to lift the markets on Tuesday morning.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.