See other Business/Finance Articles
Title: COMMUNIST WAY OF HANDLING CRASHING STOCK MARKET - Chinese Police Officially Launch Crackdown On Stock Sellers & Rumor Spreaders
Source:
[None]
URL Source: http://www.zerohedge.com/news/2015- ... -stock-sellers-rumor-spreaders
Published: Jul 10, 2015
Author: Submitted by Tyler Durden
Post Date: 2015-07-10 01:19:03 by HAPPY2BME-4UM
Keywords: CHINA, STOCK MARKET, MARKET CRASH
Views: 468
Comments: 14
Not only has the Chinese regulator specifically asked all listed companies to submit reports, within the next two days, on the measures they will take to prop up their shares, according to the 21st Centruy Business Herald; but, as we warned yesterday, Chinese police have begun a "nationwide action plan" to work with stock regulator CSRC to crack down on now 'illegal' stock and futures trading. As SCMP reports, police are checking who sold off Ping An and PetroChina stocks in last 30 minutes of trading July 8 while Government was buying to boost index... Who needs QE? This is worse, much worse... Market sources: Police checking who sold off Ping An, PetroChina stocks in last 30mins of trading July 8 while Gov was buying to boost index — George Chen (@george_chen) July 10, 2015 MORE: Chinese police to work with stock regulator CSRC to implement "nationwide action plan" to crack down illegal stock and futures trading — George Chen (@george_chen) July 10, 2015 BREAKING: Securities Crime Bureau of Public Security Ministry investigating 10+ "malicious shortsellers" who sold off stocks, futures July 8 — George Chen (@george_chen) July 10, 2015 * * * Which explains this... * * * And here is what Rabobank thinks... “China managed to stage an impressive equity rebound yesterday. One could call it a dead cat bounce, but we don’t even have an entire cat, so it was more parts of a dead cat bouncing, aided by news that anyone caught selling short would be arrested. To say that doesn’t look sustainable is an understatement, especially with PPI (Producer Price Index) slipping to -4.8 per cent (Year-on-Year), and CPI (Consumer Price Index) edging up to 1.4 per cent only on vegetable prices.” 
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
Begin Trace Mode for Comment # 5.
#4. To: HAPPY2BME-4UM (#0)
(Edited)
PS Anytime I hear someone that made their fortune in the markets talk about "working hard for their money," I realize that I'm in the presence of a lazy fool, or worse, and someone that's more a part of the problem than anything even close to a part of any solution.
In terms of this conversation it sounds like you've confused working with investing.
#6. To: All (#5)
The Death of the Chinese Stock Market I find it both disturbing to read reports that prominent investors and investment firms encouraging people to apply the mindless “buy on the dips” mentality to the current sell-off in the Chinese stock market. Why do I say that? Because the Chinese stock market is, as far as I can see, officially dead. It is no longer functioning as a market after Chinese authorities panicked this week and closed much of the market to trading while threatening short sellers with criminal prosecution. They have also placed a moratorium on new IPOs and prohibited selling by shareholders owning more than 5% of the shares in any company while also prohibiting large pension funds from selling shares. For all intents and purposes, China no longer has a functioning stock market although for some reason few commentators or media observers have stated this obvious fact. -snip
No, Katniss is correct! Only a fool invests in the stock market these days. What happened in China will have rippling effects in the U.S. market as well. And don't forget that since Greece is an ally of the U.S. we will wind up bailing Greece out putting our own economy in turmoil.
Top • Page Up • Full Thread • Page Down • Bottom/Latest
#5. To: Katniss (#4)
Anytime I hear someone that made their fortune in the markets talk about "working hard for their money,"
Replies to Comment # 5. www.forbes.com/sites/mich...the-chinese-stock-market/
#7. To: Jethro Tull (#5)
(Edited)
End Trace Mode for Comment # 5.