Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
The turmoil in China’s stock market is so bad that some companies are calling it quits. Over 700 Chinese companies have halted trading to “self preserve,” according to the state media. That means about a quarter of the companies listed on China’s two big exchanges — the Shanghai and Shenzhen — are no longer trading….
Since China’s stock markets slid by about 30% from their peak in mid-June, the government and financial firms have rushed to come up with measures to turn things around. Their efforts appeared to work today (July 6), with the key Shanghai Composite Index closing up 2.4%. Here’s a complete list of the stimulus attempts that…
Submitted by Lance Roberts via STA Wealth Management, In yesterday’s discussion on the technical underpinnings of the market, I pondered the question of whether Greece was really the primary issue of concern for investors. “Whether, or not, a Greek exit from the Eurozone or a potential debt default is “the thing” that sparks the next…
Chinese stocks tumbled, sending the benchmark index into a bear market, as signs of an exodus by leveraged investors overshadowed the central bank’s effort to revive confidence with an interest-rate cut. The Shanghai Composite Index dropped 3.3 percent to 4,053.03 at the close, taking declines from its June 12 peak to more than 20 percent….
Following a week in which the Chinese stock bubble popped and a weekend in which the Eurozone bubble followed, it was all up to central banks to stabilize the devstation that would follow should the Plunge Protection Team, now global, not show up. And while US equities futures were looking grim overnight, China at least…
While Greece has understandably been the focal news event over the weekend – after all it has been 5 years in the making – let’s not forget that in another massive move, one geared squarely to prevent a market collapse and to avoid even further panic, the Chinese central bank cut both its policy rate…