Stock Market Rescue Over, Not!

ChiNext at a new post-peak intraday low this morning. Baofeng is down to ¥73.87 per share at the moment, down 76% from the peak.
Fortune: China pledges money for stock rescue before military parade
The China Securities Regulatory Commission asked the country’s brokerages to pledge 100 billion yuan (about $16 billion) to a rescue fund over the weekend, in addition to buying back their own shares, Cailian and other Chinese press outlets reported Sunday night.

The news comes after other Chinese regulators stopped buying stocks directly early last week, which led to a collapse that China’s state press dubbed Black Monday and sent global stock markets reeling. Now it appears that sitting by in silence last week may not have been a policy change to let free market forces take over—the government may have just been biding its time.
The stock rescue failed, but the government is trying it again in order to remove negative headlines during the military parade. What will happen when the political tape painting ends?

AgWeb: If the Options Market Is Right, China’s Stock Rescue Is Doomed
The cost of bearish contracts on the China 50 exchange- traded fund has surged to the highest level versus bullish ones since they started trading in Shanghai six months ago. The so-called skew also climbed to a record for a similar ETF in the U.S., even as government buying drove China’s benchmark index to a 10 percent rally in the final two days of last week.

iFeng on the 100 billion yuan rescue: 券商输血救市 逾千亿资金驰援A股

Small cap H-shares:

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