Breaking: China Halts Stock Trading After 7% Rout Triggers Circuit Breaker

Breaking tonight:
It looks like tomorrow morning the NYSE is going to start off very down.

Chinese stock exchanges closed early for the second time this week after the CSI 300 Index plunged more than 7 percent.
Trading of shares and index futures was halted by automatic circuit breakers from about 9:59 a.m. local time. Stocks fell after China’s central bank weakened the currency’s daily reference rate by the most since August.

“The yuan’s depreciation has exceeded investors’ expectations,” said Wang Zheng, Shanghai-based chief investment officer at Jingxi Investment Management Co. “Investors are getting spooked by the declines, which will spur capital outflows.”

Under the mechanism which became effective Monday, a move of 5 percent in the CSI 300 triggers a 15-minute halt for stocks, options and index futures, while a move of 7 percent close the market for the rest of the day. The CSI 300 of companies listed in Shanghai and Shenzhen fell as much as 7.2 percent before trading was suspended.

Chinese stocks in Hong Kong, which doesn’t have circuit breakers, slumped 4.4 percent. The offshore yuan fell to a five-year low before erasing losses.

www.bloomberg.com...

a reply to: IAMTAT

So that's twice this week?

Thursday could like a few months ago !!!!

Down 1000.

originally posted by: EA006
a reply to: IAMTAT

So that's twice this week?

Yes.
This was an auto full-day closure.

a reply to: IAMTAT

The last five day report for the DAX, CAC, FTSE, and DJI looks pretty bad....

Trade in Chinese stocks lasted around 850seconds today..
15minutes!!

It isn't pretty..



Dow Futures down 169.00 points..

I'm buying some popcorn

Wow these early sell offs are fascinating. Usually everyone's locked in near end of fiscal year as they've optimized taxes already. Then new year allows for actual speculation to happen. Seems like the consensus sees where this is going.

You've also got to understand the biggest sector of our economy is pushing back on these sells. More specifically your retirement account which is pretty much house money they'll ride till it dies.

Buckle up. Tomorrow is gonna be a bumpy ride!

China has been winding itself up with a big bubble for a long time now. The correction was inevitable and as always happens, that impacts all around.

But I thought China is the new Super Beast?

Poor form.

a reply to: ketsuko

Agree. And as they say, "the bigger they are, the harder they fall". The reverberations from this fall could be bone jarring.

looks like some pretty significant rules are being put in place.. i think this will just spook the market more

www.cnbc.com...

China's securities regulator issued rules on Thursday to restrict share sales by listed companies' major shareholders, saying the move will stabilize market expectations but doesn't signal an imminent exit of the "national team" of investors.

Major shareholders must not sell more than 1 percent of a listed company's share capital through stock exchanges' centralized bidding system every three months, according to the rules published by the China Securities Regulatory Commission that will take effect Jan. 9.

In addition, major shareholders must file their plans 15 trading days in advance of sales

a reply to: Agit8dChop

WOW. Fear Fear Fear. Nobody is going to find confidence in that.

One of these days it is going to go down thirty five percent. Maybe then I will invest back into it. The stock market has gotten so irrational and most of the excuses and sales pitches are all lies.

I can't understand why people can't see this, they believe it is like money in the bank.

Been waiting for this quietly to happen, the financial war has been won and lost. We're about 1935-36 at the moment and my guess is that once again the next big war will start in Germany. Merkel will get the boot and some National Socialist will take power and drive out the Muslims first in Germany and then Europe.

originally posted by: IAMTAT
Breaking tonight:
It looks like tomorrow morning the NYSE is going to start off very down.

Chinese stock exchanges closed early for the second time this week after the CSI 300 Index plunged more than 7 percent.
Trading of shares and index futures was halted by automatic circuit breakers from about 9:59 a.m. local time. Stocks fell after China’s central bank weakened the currency’s daily reference rate by the most since August.

“The yuan’s depreciation has exceeded investors’ expectations,” said Wang Zheng, Shanghai-based chief investment officer at Jingxi Investment Management Co. “Investors are getting spooked by the declines, which will spur capital outflows.”

Under the mechanism which became effective Monday, a move of 5 percent in the CSI 300 triggers a 15-minute halt for stocks, options and index futures, while a move of 7 percent close the market for the rest of the day. The CSI 300 of companies listed in Shanghai and Shenzhen fell as much as 7.2 percent before trading was suspended.

Chinese stocks in Hong Kong, which doesn’t have circuit breakers, slumped 4.4 percent. The offshore yuan fell to a five-year low before erasing losses.

www.bloomberg.com...

Wow. Thanks for sharing OP.

As I contemplate this news i can only say this:

It rained metal and sulphur on Venus
When they drove nails into the hands of Jesus.

Judas down the way had his bag of gold
Jesus was sold and now billions out in the cold

The smoking set and the gargoyle pin
Are roaming around in cloud storage going ding a ling ling.

Ding a ling ling? A pin? A pin?
Yes, a pin to wear on your tie...
Or to poke you in the eye...

We removed the plank from our own eye before we spoke. We undid our tie.

And we untied the Jesus in us.

Jesus unleashed in a death match with cloud storage...where all stocks reside and money changers hide.

In clouds.

What will rain down on earth now knowing that?
How about manna to fill ALL our hats?

Love manna, truth manna, responsibility manna, compassion manna, Grace manna, forgiveness manna, sharing manna, happy manna, fun manna, wise mamna, creative manna, self controlled manna and friendship manna.

That is our stock for the survival of humanity.

Thank you God.

They are trying to bankrupt Trump so he cannot buy airtime.....

originally posted by: matafuchs

They are trying to bankrupt Trump so he cannot buy airtime.....

Cruz is behind it.

His wife works at Goldman Sachs.

Gold smashed to the upside......the currency pair that tests the downfalls is the GBP/JPY.........

It started tanking a week ago........

I can't wait to buy tomorrow. I love being able to buy stocks on sale.

These are the days when you buy all the stocks on your wish list.