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  1. #1
    Thailand Expat misskit's Avatar
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    'Don't Panic,' Say China's State Media, Amid Ongoing Market Mayhem

    The ruling Chinese Communist Party used its official media outlets to crank up positive propaganda surrounding the country's plummeting financial markets on Monday after a government intervention over the weekend, amid warnings that online "rumor-mongers" will be detained.

    "Firm confidence instead of panic should be held for China's capital market as market risks are within control and fragile market sentiment will be reversed," the party's official People's Daily newspaper said in an editorial on Monday.

    In a bid to reassure investors that tumbling share prices are a top priority for the government, the paper said that China has "sufficient tools" to stem the carnage, that saw the benchmark Shanghai Composite Index fall by nearly 30 percent in the past three weeks, with some 12 percent of its value lost last week.

    "China has sufficient tools to bring the stock market back to sound footing as the economy keeps improving and the liquidity remains abundant," the People's Daily said.

    It said the government is now engaged in "emergency and supportive measures to stabilize market sentiment."

    More here: 'Don't Panic,' Say China's State Media, Amid Ongoing Market Mayhem

  2. #2
    disturbance in the Turnip baldrick's Avatar
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    it still has a way to go

  3. #3
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    Chinese state media, always reliable and reassuring in times of crises, yes.

  4. #4
    disturbance in the Turnip baldrick's Avatar
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    2000 is still a long way down

    Chinese Authorities are going to force financial institutions into the breach which is only going to have their valuations decrease.

    there is still all the overextended property developers and their overextended partners in crime , local authorities across the country

    the greek sideshow is nothing compared to the fallout from this debacle

    I believe all the money they will be throwing at this would have been better used for infrastructure across the region

    A leading China watcher is warning that its share markets could give up all of their gains over the past year as government stimulus efforts appear impotent to halt the current crash.
    Silvercrest Asset Management's chief strategist, and long-time China watcher, Patrick Chovanec said the recent sell-off is overdue as Chinese stocks are priced well above what their earnings justify, and "at some point reality kicks in".
    "I think that the Chinese stock market is heading right back down to where it started a year ago," he told ABC News Online.
    "It was just above 2,000, and that's where it was for a couple of years, and I think that those market valuations actually made sense."
    full story here
    Chinese share plunge threatens government's financial credibility - ABC News (Australian Broadcasting Corporation)

  5. #5
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    Quote Originally Posted by baldrick
    I believe all the money they will be throwing at this would have been better used for infrastructure across the region
    Ya think?

  6. #6
    I am in Jail

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    Would of thought china has been spending more than enough if not to much on projects.

  7. #7
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    Quote Originally Posted by Horatio Hornblower View Post
    Would of thought china has been spending more than enough if not to much on projects.
    Yes, there is no shortage of infrastructure projects.
    In fact it's interesting in China. Everything seems new, huge new highways, bridges tunnels, railway stations and networks, airports, sports grounds footpaths, roads.
    In the west so much seems almost worn out by comparison.

  8. #8
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    ^You left out "empty cities." China stock market diving again today...no bottom in sight...that's what happens when the game is over. Start looking for all those infrastructure projects to be abandoned as well their foreign financial support to dwindle...

    The only thing that won't suffer is the Chinese Military Establishment...don't fuk with them or you're "toast."

  9. #9
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    Quote Originally Posted by misskit
    The ruling Chinese Communist Party used its official media outlets to crank up positive propaganda surrounding the country's plummeting financial markets on Monday after a government intervention over the weekend, amid warnings that online "rumor-mongers" will be detained.
    Never thought the fallout of the greek referendum would reach that far. But worldwide meltdown as a result was predicted, wasn't it?

  10. #10
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    ^China's been on the suspect list for quite a while....

  11. #11
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    Quote Originally Posted by misskit
    'Don't Panic,' Say China's State Media, Amid Ongoing Market Mayhem

  12. #12
    Thailand Expat misskit's Avatar
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    Over 20% of listed China stocks now in trading halt

    HONG KONG (MarketWatch) — Amid a heavy market selloff, 203 mainland-China-traded companies announced separately Tuesday that trading in their shares had been suspended.

    This brought the total number of shares in trading halt over the past seven days to 651, or about 23% of the entire pool of 2,808 listed stocks, the Securities Daily reported Tuesday.

    Many of the companies didn’t reveal the reasons behind the trading suspensions, though some cited reasons including the consideration of unspecified significant events, asset restructuring, or private share placements, the report said.


    Many market observers saw the exodus into trading halts as a way for companies to protect their stocks from the current sharp drop for Chinese markets, according to the report. The Shanghai Composite Index SHCOMP, -1.29% having plunged 12.1% last week, though it was up 1.1% for the current week to date as of Tuesday’s close.

    Reuters reported separately that the companies would face fines if they were discovered to have requested trading suspensions without good reason.

    Among the 615 issues, 37% came from the Shenzhen Stock Exchange’s Small and Medium-sized Enterprise board (SME), while more than 22% were from the ChiNext 399006, -5.69% of start-ups, according to the the Securities Daily.



    Over 20% of listed China stocks now in trading halt - MarketWatch

  13. #13
    Thailand Expat CaptainNemo's Avatar
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    Wheeeeee!!! what a ride that crash will be!

  14. #14
    Days Work Done! Norton's Avatar
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    Stocks in China are in free fall.

    Markets across Asia followed China’s key share indexes into the red today despite further efforts from Beijing to stave off the relentless fall in Chinese share prices.

    A short time ago the benchmark Shanghai Composite was down more than 5% for the day, having fallen as much as 7%, while the SSE 50 index of the top 50 stocks on the bourse was down more than 7%. The CSI 300 of the largest listed firms on the Shanghai and Shenzhen exchanges was down 7%.

    Chinese stocks are crashing - Business Insider

  15. #15
    Days Work Done! Norton's Avatar
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    Quote Originally Posted by misskit
    Don't Panic
    Folks are ignoring you big gov.

  16. #16
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    Quote Originally Posted by Norton View Post
    Quote Originally Posted by misskit
    Don't Panic
    Folks are ignoring you big gov.
    Question will be, where does the panic stop, by the looks of it, not in China.
    Big miners in OZ, not happy, share prices falling, many listed on the London, NY exchanges.
    Lots of foreign capital in China, some big banks, investment groups could take big hits, does China start selling off US treasury bonds to stimulate the economy, buying assets.
    Are we looking at anther GFC, worlds sick and don't think governments can borrow their way out a second time.

  17. #17
    Thailand Expat Black Heart's Avatar
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    I've been lots of articles on this. Obviously, worthy of following. What gov is saying seems typically silly, and massive numbers of companies not trading wrecks already fading confidence.

    Note, the Shhenzen tech numbers. Waaay down

  18. #18
    disturbance in the Turnip baldrick's Avatar
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    Quote Originally Posted by jamescollister
    Are we looking at anther GFC
    I would say it is already happened

    the only way we could have escaped is for China's demand for raw materials to have held - that fell off quite badly and so it affected their businesses across the board

    now it will continue for a while - carnage

    world commodity prices have been in freefall for days - everywhere is looking to cut costs or shutdown

    the thai net whingers will not have to worry about chinese kids pissing in their gutters for a while now

  19. #19
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    Isn't the majority of investment in China from Hong Kong Singapore.
    Last edited by Horatio Hornblower; 08-07-2015 at 08:12 PM.

  20. #20
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    Looking at some sites China is one, if not number one world investor overseas, remember it's state controlled capitalism, Communist.
    Their interests are in keeping China stable, they can literally bankrupt other countries in minutes if they need to.
    The peoples army made China, it must be on the minds of the leaders that those same people could change the status again [USSR] way.
    So does China need the west, it needs resources, food, but much of this has been secured already.
    Remember reading that the Pakistan deal for land, allows China to put security forces in Pakistan to protect the investment, 100,000 of them.
    They seem to own a lot in Africa, Australia and many other countries, plus a hell of lot of US debt.
    Question will be, are they world players, or more interested in national interests, keeping the party in power.

  21. #21
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    From reports the Russians are hesitantly going the Chinese way,though the Russians are concerned about the investments in former soviet states, and the chances the Chinese may use them for military bases.

  22. #22
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    Quote Originally Posted by Horatio Hornblower View Post
    Isn't the majority of investment in China from Hong Kong Singapore.
    That was the old days.

    Been to China lately? HUGE money.
    Mercedes and BMWs passe, on the roads very common to see Bentleys, Rolls, Porche, Ferraris, Maserati, Lambos.
    Bet some of them are shitting themselves right now.
    20% of China stocks suspended from trading today. (if they hit a certain number up or down they're automatically siuspended).
    Hong Kong stocks following suite.

  23. #23
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    Essentially, 200 million pigs fucking over 800 million serfs and spunking the dividend in a huge money laundering operation involving continents over 15 years without adding value or substance generally means problems.

    I have said for several years the Chinese thing would implode under its own mass of turpetitude and eventually fragment.

    Looks like I was right but I'm quite surprised by the speed of the collapse.

    The return of manufacturing to quality in the West will be a welcome boost to re- establishing its supremacy in the world.

  24. #24
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    Incidentally, the Australian economy is really vulnerable to the fallout from China's slowdown. There's just so much demand in the world for everything to go round and China has just too much capacity.
    Them super funds will be toast.

  25. #25
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    Anyone who believes this will hurt China in the long run, is delusional. It may hurt for a few years to a decade. But they will come back stronger than ever.

    Maybe it gives the West time to breathe and come to our senses on many levels.

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