Sea of Red in Asia
There’s another bloodbath in Asian equities his morning, the second in a week.
click on chart for sharper image
Chinese Markets Halted in 14 Minutes 17 Seconds
Chinese equities are down another 7.32% and the exchanges were halted in a record 14 minutes, 17 seconds.
The Wall Street Journal comments on China’s Shocking Stock Halt.
A plunge in China stocks on Thursday led to their second trading halt this week and the shortest trading day in the market’s 25-year history. The duration of trading that occurred in Chinese markets today: 14 minutes 17 seconds.
The Shanghai and Shenzhen stock markets were shuttered as “circuit breakers” installed Monday were triggered for the second time this week. The mechanism halts trading for 15 minutes if the CSI 300 index moves 5% and ends trading for the day if it moves 7%.
The Shanghai composite’s this week: -11.96%.
With today’s performance, this week’s decline marks the worst start to a year in Chinese trading history. The Shanghai Composite is on track for its worst week since July.
$SSEC – Shanghai Composite
When central banks blow bubbles that is what eventually happens.
Mike “Mish” Shedlock