– Chinese Stocks Are Still Crashing (ZeroHedge, April 17, 2015):
While the Chinese are long to bed, futures continue to trade on their exuberant stock market… and it’s going south in a hurry. As we noted earlier, the catalyst appears to be a regulatory decision to increase the number of ‘shortable’ securities (and follow-through from PBOC’s day prior demands of brokers to monitor margin trading). Both of these actions were taken as ‘signals’ that policymakers may be getting nervous about the ebullient wealth creation… Chinese stock futures are now down almost 7% – the 2nd biggest drop in 7 years.
This seemed to sum things up rather well…
“I’ve never seen a drop in markets like this in my entire career” -17 year old hedge fund managers everywhere
— Stalingrad & Poorski (@Stalingrad_Poor) April 17, 2015
Source: Nanex LLC