2015-07-09

Shanzhai Composite Biggest Gain Since 2009; Not A Single Stock Drops in China; Morgan Stanley Mentioned As Possible Target of Short Selling Probe

With many shares still halted, the Shanghai and Shenzhen markets were almost completely limit up on Wednesday. Here's a screen grab, you can see there's only a few companies that went up less than 9%. There's nothing but halted shares below. Shanghai was up only 5.8% due to many components being halted. The average increase in traded shares was over 9%.
Here's the ChiNext.
Hong Kong H-shares were up huge. Some of the companies I posted two days ago were up 30%, as were many financial companies.

Yesterday's biggest government move: China Security Ministry to Probe ‘Malicious’ Short Selling
iFeng: 新华网:公安部核查昨日涉嫌恶意做空的10余家机构和个人

The Chinese article says there are 10 people and organizations being targeted. Morgan Stanley was unofficially mentioned by an official.
The central bank in charge of the newspaper hinted at Morgan Stanley and other international investment banks maliciously short A-share

Update: ASHR up 17% in U.S. trading as huge discount closes; HAO up 15%.

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