The following tweets are from South China Morning Post's Managing Editor for International Edition George Chen...
The tweet above looks like China's modern version of the early middle age King Canute, where the latter supposedly ordered the sea to turn back the tide.
But unlike King Gnut or popularly known as King Canute, who did so in order to show the limits of his power, the Chinese version may be appealing to populist demand...
Chinese investors gamblers have been venting their rage as the boom turned into a three week stock market bust.
One example of expression of the fury can be seen in the poster above.
And part of measures to stem the hemorrhage has been yesterday's new rule for a daily trading limit (image and article from the Business Insider)
Yet unfortunately, Chinese stocks performed against the wishes of China's political leadership.
But it didn't stop them from trying...
The Chinese government easily learned the ways of the Philippine index managers via the 'afternoon delight' selective pump on several key heavyweight issues.
Unfortunately they haven't been as effective.
From as deep as 4.96% during the first half of the session as shown in the lower window below, losses have been reduced to just 1.29% at today's close.
But as Mr. Chen tweeted above, 1,600+ stocks closed limit (10%) down!
And the broad market meltdown had been quite evident in most of China's benchmarks.
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