china stocks toxic like shit

[Pirelli]

Chinese police find signs of illegal share trading

Public security task force heads to Shanghaiin search of 'malicious short-sellers' as weary investors brace for another week of volatility

PUBLISHED : Monday, 13 July, 2015, 1:32am
UPDATED : Monday, 13 July, 2015, 9:14am

Daniel Ren and Enoch Yiu

The Ministry of Public Security has launched a task force to investigate "malicious short-selling". Photo: Xinhua

Mainland police have found "clues" of suspected manipulated trading in securities and index futures, which Beijing sees as one of the main drivers of the stock market rout over the last month, state media reported on Sunday.

The stepped-up investigation into market irregularities is the latest central government effort to end the market's roller-coaster ride but the outlook for this week remains uncertain amid a flood of trading resumptions.

The Ministry of Public Security sent a task force led by vice-minister Meng Qingfeng to the China Securities Regulatory Commission on Thursday morning, launching an all-out investigation into "malicious short-selling" after the key indicator nosedived more than 32 per cent in less than a month, a sharp fall likely to wreak havoc on the financial system and threatening to ignite social unrest.

Xinhua reported on Sunday that the task force arrived in Shanghai on Friday, suggesting that some of the trading firms suspected of manipulation would be named soon.

It said the team was still investigating and had clues that certain firms might have manipulated futures trades, without giving further details.

The benchmark Shanghai Composite Index rebounded 10.6 per cent late last week, but lingering worries of a sell-off this week continued to weigh on the stock market.

As of Friday, trading in about 1,400 firms - nearly half of the total traded on the Shanghai and Shenzhen exchanges - was suspended amid a bloodletting. By last night, about 260 had announced they would resume trading today, a move that would likely ratchet up liquidity pressure on the market.

"The outlook for the stock market in the coming week remains full of uncertainties," said Joseph Tong Tang, an executive director of Sun Hung Kai Financial. "I believe the wave of resumptions will lead to more volatility. It is going to be another volatile week ahead."

Between October and June 12, the main A-share indicator surged nearly 120 per cent, buoyed by margin loans estimated to be worth more than 4trillion yuan (HK$5 trillion).

The turmoil of the last few weeks prompted mainland authorities to take unprecedented steps to stabilise the markets.

The securities regulator said in a statement on Sunday that it would launch a national probe into brokerage accounts to weed out market manipulation, saying institutions using other identities to open accounts and trade shares for themselves would be punished.

Beijing's decision to send in the police underscored its determination to stem the market slide, observers said.

"The police have every reason for the crackdown, but obviously, investors are aware of the political implications of the investigation given the sensitive timing," said Shanghai-based lawyer Yan Yiming, who has represented hundreds of retail investors in a series of lawsuits.

Yan said malicious short-selling referred to illegal practices such as spreading rumours to induce panic selling, taking advantage of inside information to dump shares before others, colluding with other institutions in bulk share sell-offs to send down prices, and churning - selling and buying the same shares at affiliated accounts to rig prices.

Separately, the Cyberspace Administration of China ordered media organisations and online websites to remove all advertisements illegally promoting margin loans through the mainland grey market.

 

[frenchbriefs]

What im interested is is now a good time to jump into china stocks?are chinese stocks value for money now?there has to be some big blue chip stocks that are worth buying.temasek holdings has 31% portfolio holdings in china,there must be some goodies on discount right now.

 

[dancingshoes]

 

[frenchbriefs]

Its ok can average down all the way.its about the long term value of the company and the stock market future,markets goes up in the long run.let me ask u,if I offered u a chance now to buy s&p 500 at prices halfway thru the 2008 crash would u do it?still got downside to go but huge upside and huge discount

 

[eatshitndie]

toxicity of tiong stocks trending tentative in tumultuous times.....expect more tiongs to stay home and suck thumbs or at best jump on high speed rail tracks.

http://finance.yahoo.com/news/chinas-stocks-extend-slump-worst-040237313.html

 

[eatshitndie]

dalian wanda in deep shit, closing 40 shopping malls and 80 ktv's.

http://sgi.seleritycorp.com/dalian-wanda-to-close-40-shopping-malls-in-china/

 

[eatshitndie]

in adversity, there are opportunities. the big 4 tiong stocks cannot fail in the long term, and right now their valuations pose a bargain: china petroleum, bank of china, icbc, china insurance. when market settles and stabilizes, time to buy. and do it from hk.

 

[johnny333]

in adversity, there are opportunities. the big 4 tiong stocks cannot fail in the long term, and right now their valuations pose a bargain: china petroleum, bank of china, icbc, china insurance. when market settles and stabilizes, time to buy. and do it from hk.

Anyone out there have a HK trading account

How difficult is it to do trading from Spore?

 

[winnipegjets]

PAP depends on Ah Tiong to survive. Like that how?

 

[syed putra]

I hope this episode will bring down xijinping, that neo nazi, nationalist, expansionist, colonialist tiong for good.

 

[eatshitndie]

this one chart explains why china is in deep shit and needs to devalue the yuan. it came as a shocker to tiong authorities.

 

[eatshitndie]

china surprises many by reporting on their gold hoard of 1677.4 metric tons today, 29 days from the last report. tiong hoard of gold grows by 19 tons from july 17 when she reported 1658 tons. the last report before july 17 was in 2009. it is expected that china will continue to report her gold stash monthly as a means of showing the imf her financial reporting is becoming more transparent. this of course is to prepare the yuan to be accepted as a reserve currency in the imf for special drawing rights. for china it's more about bragging rights than special drawing rights. the jap yen is already an imf reserve currency among the club of a few, with the usd being the dominant world currency. the u.s. have 8133.5 tons of gold reserve stashed in the vaults, many times more than china. this spells confidence in gold, and gold will only remain relevant during a very volatile period of currency fluctuations.

 

[KopiO]

Now we'll see less of the ugly PRC tourists.

And more of the fuckabke kind

 

[eatshitndie]

Now we'll see less of the ugly PRC tourists.

And more of the fuckabke kind

very soon these two sisters will have to offer their abalones up for rent.

 

[KopiO]

very soon these two sisters will have to offer their abalones up for rent.

View attachment 23007

Two for the price of one ?

 

[KNNBHCB]

Two for the price of one ?

OMG, these two bitch, give me free also I no want. Maybe they got diseases one.

Those who keen... good luck hor.

 

[KopiO]

OMG, these two bitch, give me free also I no want. Maybe they got diseases one.

Those who keen... good luck hor.

Maybe they have ....

[video=youtube;nZaHnKurhE8]https://www.youtube.com/watch?v=nZaHnKurhE8[/video]

 

[NoLimit]

China's central bank cuts interest rates in bid to halt stock turmoil

Decision to also cut lending limits comes as Premier Li Keqiang says there was no basis for continued depreciation of the yuan

PUBLISHED : Tuesday, 25 August, 2015, 6:35pm
UPDATED : Wednesday, 26 August, 2015, 3:30am

Nick Edwards
[email protected]

A securities firm in Tokyo displays China stocks. The PBOC cut interest rates after the Shanghai Composite Index closed more than 7 per cent down. Photo: Bloomberg

Beijing cut interest rates and eased bank lending limits yesterday in a bid to stop panic selling in mainland stock markets that smashed them to eight-month lows, even as equities elsewhere in the world began to recover from the previous day's rout which investors termed "China's Black Monday".

The move came as Premier Li Keqiang said there was no basis for continued depreciation of the yuan. He added that the yuan would "stay at a reasonable and balanced level".

China stock index futures traded in Singapore jumped nearly 6 per cent higher in response to twin moves that sliced 25 basis points from borrowing costs and cut the proportion of reserves lenders must hold on deposit with the central bank, injecting an estimated 650 billion yuan (HK$786 billion) of liquidity to help support the economy.

US stocks also rebounded last night as investors sought out bargains a day after Wall Street turned in its worst performance in four years.

Shortly after opening, the Dow Jones industrial average was up 374.74 points, or 2.36 per cent, at 16,246.09, with all 30 of its components in the black.

A global market meltdown on Monday was sparked by investor fears that China's fragile share markets were spiralling beyond the control of policymakers and would hurt economic growth. It triggered a flurry of international political rhetoric with US presidential hopefuls, European officials and others pointing fingers at Beijing and urging the government to act to stabilise the country's markets and economy.

"I'm the one that says you better start uncoupling from China because China's got problems," real estate mogul and Republican front-runner Donald Trump said on Fox News, with similar views echoed by fellow Republican hopefuls Scott Walker and Chris Christie.

While uncoupling from the world's second-largest economy and source of the single biggest driver of global growth is not possible, investors showed signs yesterday of distinguishing more clearly between the mainland and elsewhere.

"What we are witnessing is a struggle in the market between deleveraging and value-at-risk selling competing with decent economic fundamentals and continued central bank support," UBS Wealth Management global chief investment officer Mark Haefele said.

"For now we believe the positive factors will win out. But market shocks of this magnitude have the potential to overpower fundamentals," he wrote in a note to clients.

Key Asian stock markets recovered a degree of composure - led by a 3.6 per cent rise on Taiwan's TAIEX index and a 2.6 per cent gain for the Australian All Ordinaries index - despite the 7.6 per cent slide on the Shanghai Composite Index which marked its sharpest four-day fall since 1996.

US stock futures and major European share benchmarks also traded firmer at the open, while copper - a key industrial metal used by investors as a gauge of sentiment on China's economic health - largely held its ground, albeit at around six-year lows. All of which suggests that the mainland is not headed for the economic oblivion that glo bal markets were pricing in on Monday.

Germany’s DAX and other European stock markets rallied on news of China's rate cut. Photo: Reuters

"What you have to remember with China is that people have been waiting for the coming crash, year after year," said Miranda Carr, head of China thematic research at BESI, the equity research arm of Portugal's Banco Espirito Santo de Investimento. "All of the bearish sentiment that has built up since 2009 has crystallised for them."

The so-called 'perma-bears' on China's economy say Beijing's massive fiscal and monetary stimulus package unleashed in response to the global financial crisis of 2008-09 further inflated an unsustainable bubble in the economy that policymakers have battled with ever since.

Debt across the mainland economy has spiralled to more than 250 per cent of GDP, creating a substantial drag on growth.

But that does not convince all investors and economists that labelling China as a convenient scapegoat for one of the world's worst stock market sell-offs since the financial crisis makes sense.

Before Monday's rout, world equities had already suffered their steepest consecutive three-week fall since the autumn of 2014 and the deepest single week loss since May of 2012, indicating the degree to which investors had been paring back exposure to risky assets in the face of mounting evidence that world economic growth is slowing.

"What is happening here is obvious," Christopher Wood, investment strategist at CLSA wrote in a client note. "That is that world stock markets, and in particular developed world stock markets, have finally succumbed to the evidence of the growing downturn in global growth."

Some analysts say China has been a convenient whipping boy for increasingly nervous global investors, fretting that anticipated rises in interest rates in the US and the UK heralds the end of the era of super cheap money.

That cheap cash has, after more than six years, delivered only a tepid consumer recovery in developed economies, but has fuelled massive rises in asset prices which must inevitably come down.

 

[Leongsam]

If there was no illegal trading on chinks stock markets I'd be very worried.

 

[Sabra]

China detains Citic Securities managing director, three other senior officials and financial journalist over alleged inside trading

PUBLISHED : Monday, 31 August, 2015, 2:52am
UPDATED : Monday, 31 August, 2015, 11:11am

Teddy Ng

Citic Securities says its operations remain stable. Photo: SCMP Pictures

The managing director of Citic Securities, Xu Gang, and three other of the brokerage’s senior officials have been detained for alleged inside trading, state-run Xinhua reported on Monday.

In addition to the four people from Citic Securities, the authorities have also held a journalist from Caijing magazine and an employee of the China Securities Regulatory Commission.

Xinhua said Xu, who is also an executive committee member of the brokerage, was taken into custody on Sunday. Also held were executive committee member Liu Wei; Fang Qingli, the head of the company's securities financing business; and company director Chen Rongjie.

The report said Caijing journalist Wang Xiaolu fabricated and spread false information related to securities trading.

In an article published on July 20 – soon after the government unleashed hundreds of billions of yuan to bail out the beleaguered market – Wang wrote that the CSRC was preparing an exit plan. The regulator denied the story.

Xinhua said Wang told investigators that his article was based on his personal assessment and information he had gleaned about the stock market, but he did not verify it.

Wang felt “remorse” that he had created chaos and panic in the market by “spreading an untrue report” that severely damaged market confidence.

He was quoted as saying that he was willing to cooperate with investigators. He also pleaded for leniency, the report said.

The CSRC employee detained was named as Liu Shufan, who was accused of taking bribes from a listed company in return for securing approvals from the regulator.

Liu also allegedly used 10 million yuan in funds borrowed from a friend to buy shares in the company via others’ accounts. The transaction generated a 3 million yuan return, of which Liu pocketed 1 million yuan. Liu also used inside information about the company to make several million yuan in illicit gains.

A statement released by Citic Securities on Sunday before the Xinhua report said several of its senior management members and employees were asked to assist in investigations, but added that the company's operations remained stable.

The company said it was proactively cooperation with the authorities.