Chinese stocks move into suss territory

by Chris Becker

Eloquently put by the chaps at Forexlive, but the Shanghai Composite – down over 4% at the open – is now in positive territory after the lunch break!

china-stocks

Nothing suss. (That’s an Australian saying for ‘nothing suspicious’).

There is still the afternoon session to come, and after that China is closed until Monday for a long weekend to commemorate WW2. I can’t imagine Chinese authorities will allow stocks to fall into negative ahead of the celebrations.

No selling into the hole today, it was open … up!

 

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Comments

  1. Josh MoorreesMEMBER

    I can’t believe anyone even remotely aware of the chinese market can be surprised by this? They telegraphed this a week ago. They were never going to let it fall today. Apparently traders still think this is a reflection of the chinese economy clearly

    • The environment for the 70th Anniversary Parade takes precedence over all else.
      It is all part of the propaganda driven agenda which is ascendant in the Chinese system atm.
      Xi came through the propaganda system and that is where his greatest allies in the party are.

  2. How much in reserves have the authorities burnt through to ‘keep up appearances’… ?? It’s Japan MK2 and it’s taking OZ down with it..

  3. FT Reports Monday that Chinese intervention ceased and you get 3 days of -2 to -5% recoveries.
    Looks all good to me! sarc off

    • Josh MoorreesMEMBER

      yep pull up a graph of the ASX and try to spot the moment the national team really went in.

      • Even StevenMEMBER

        Huh? Are you suggesting our markets are manipulated? (I don’t count ‘follow the fool’ as manipulation… Just foolishness)