According to Dow Jones, HOMS brought in about 440 billion yuan (US$70.9 billion) of the 500 billion yuan (US$80.5 billion) grey market funds funneled into the stock market.The hunt for the great white short continues.
However, Hundsun has denied that HOMS is responsible for the stock market crash, noting in a filing with the Shanghai Stock Exchange on Monday that only 30.1 billion yuan (US$4.85 billion) was force-sold through HOMS between June 15 and July 10, representing only 0.1% of total transactions during that period.
"It's not objective or rational to say that HOMS was the major force of the stock market turmoil," Hundsun said in the statement.
Unemployment Ahoy
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FEEDThe last big data point of the week hits at an hour before the opening
bell. Expectations are basically unchanged. We shall soon see the data and,
more...
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