Probably want to avoid walking on the footpath around the Shanghai financial district for a while....
70% or more of their stocks have been "paused" to prevent further selloffs. The government was dumping $ into the market trying to prevent further panicking. These Chinese stocks lost trillions and trillions. Today, unfortunately, is not much of a win for China. lmfao
Chinese showing typical bubble behaviour, just like the west, but I wonder with these interventions whether the standard bubble phases will play out Have a new post up on whether this crash will affect gold http://research.perthmint.com.au/20...ous-than-gold-impact-of-china-crisis-on-gold/
Because many many millions of ordinary people who now make up the majorty of the market got in near the top. Highly leveraged local and international groups pumped it up and then got lots of the money out and a fair amount of it went off shore. Also, this sott of volatility is bad for business, really bad. They should have stepped in to slow things down but letting it crash now will freeze up the economy for a long long time as some companies go broke and capital/credit disappears from fear of volatility. Of course the way they have intervened is going to scare investors away anyhow, not being able to sell shares that would otherwise be taking a nose dive and forcing brokerages from selling anything at all along with any number of other measures is going to be scaring people for years after things normalize.