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China Goes Into Firefighting Mode To Halt Stock Rout, Yuan Slide
China is intervening and otherwise pulling out all the stops to brake the pace of yuan depreciation and halt a worsening equities selloff.
Traders were "baffled" Tuesday by an abrupt turnaround for both Mainland and Hong Kong shares. The latter were on pace for an eighth consecutive day of losses before "something" turned the tide. The same general dynamic was observable on the A-share benchmark.
Although the financial media was keen to point out that both city and Mainland shares were oversol
The word “haplessness” from your post yesterday, comes to mind again. And the haplessness also makes me wonder, who are the Chinese market experts on whom Xi depends?
A very clear trait of Xi, as you have noted, is his insulated, solitary approach to leadership. Yikes! In this circumstance there is no way I would want to be in his shores.
…or his shoes.
China has to be the most manipulated market in the world.