Russian Market suspended. "The Situation Has Been Recognized As An Emergency"

Russia Will Not Reopen: "The Situation Has Been Recognized As An Emergency"

The technical suspension of trading to be extended

The situation has been recognized as an emergency. Further actions will be announced shortly.

For further information, please contact the Public Relations Department at (495) 363-3232.

rts.micex.ru...

Might be nothing, just a technical issue - but yes, the Russian stock market is down for an emergency? (was it hacked?) Just throwing this out here in case this "emergency" is something serious....


in other financial news:

Other then that, markets are getting hit hard today. Still worries over Italy and Spain financial issues (and give the Greeks a couple months before they blow through the last bailout money and they will be back in the news) and hey, the consumption of oil is still decreasing in China as their economy (manufacturing production) shrinks. North Korea is threatening the South again and Egypt has closed gas delivery to Israel.

Interesting day in the markets to be sure....thoughts?

In Mother Russia, markets stock themselves. Do not need stockmarket...

Originally posted by boncho
In Mother Russia, markets stock themselves. Do not need stockmarket...

My thoughts exactly. Its all falling apart worldwide. Might as well smile and make a joke about it.

When you wish upon a star....

The original notice came about 2 hours earlier from the one cited in the OP, but still pretty vague:

23.04.2012 18:10
Suspension of trading on the Securities Market
Trading in the Main Market sector of the Securities Market has been suspended until 6.56 pm Moscow time. Please accept our apologies for any inconvenience caused.

For further information, please contact the Public Relations Department at (495) 363-3232.

Source

trading was suspended due to "a problem in displaying orders and deals in the main stock market section."

According to a reuter report.


Considering this coincidence I am inclined to think there may be something more afoot.

Two bourse gone wacko. One indicating viral infection.

Netherlands Prime Minister and his whole cabinet have resigned because of Austerity measures - Europe jumping again.

RT News is down - just showing a 'Scheduled Maintenance' across the screen - this is probably all it is - but strange how it comes together?

reply to post by MidnightTide


Actions like this really piss me off. There are no "emergency suspensions" when markets explode in positive territory and post highly unrealistic gains with 5+% movements.

But god forbid a market decline past 2% .. it's an emergency!

This is very odd and no one should buy the official story just yet. The truth will be out soon enough and I am curious enough about this one to really pay attention. I did just check RT and it is up.

When it happens it will happen quick.

This video has been out for a while and scares the begezuss out of me.

Now I know this thread is about russia but the stock market will tumble like dominos

Originally posted by Doalrite
When it happens it will happen quick.

Like waking up one fine morning to a bank holiday? Yikes, how many people have enough cash on hand to buy one meal? Something to think about because its a matter of when, not if.

Originally posted by frazzle

Originally posted by Doalrite
When it happens it will happen quick.

Like waking up one fine morning to a bank holiday? Yikes, how many people have enough cash on hand to buy one meal? Something to think about because its a matter of when, not if.

actually it won't matter because the dollar isn't backed by anything it is just a piece of paper... so you can stuff your mattress with dollars but when it fails your dollar will be worthless even if you have a million of them.. you still wont be able to buy gas

Originally posted by Doalrite

Originally posted by frazzle

Originally posted by Doalrite
When it happens it will happen quick.

Like waking up one fine morning to a bank holiday? Yikes, how many people have enough cash on hand to buy one meal? Something to think about because its a matter of when, not if.

actually it won't matter because the dollar isn't backed by anything it is just a piece of paper... so you can stuff your mattress with dollars but when it fails your dollar will be worthless even if you have a million of them.. you still wont be able to buy gas

The dollar is backed alright, by debt, and the sooner we figure that out the better. But we don't know dollars wouldn't be accepted for goods or services in such a situation. People have more faith in that green paper than you might think. Foolishly so, but still. We could trade with plug nickels and if people had faith in them they'd work just as well. Of course most people have even fewer plug nickels than they do dollars.

Originally posted by frazzle

Like waking up one fine morning to a bank holiday? Yikes, how many people have enough cash on hand to buy one meal? Something to think about because its a matter of when, not if.

That is why I advised my parents to keep emergency food and medical stocks. In Czech republic we do not use Euro, but even with this (euro)buffer zone it is realistic to expect bank holiday very soon after such event in US or EU. Cash in hand will be useful few ours after message reach crowd but then there will be nothing to buy. Shops do not keep large stocks, everything is based on just-in-time strategy.

You never know, this may actually save thier bacon, lol. Suspension of trading means they can sit back, wait for europe to collapse further and then come in and buy it all up, lol.

Range of organizational and technical measures was taken to recover from the emergency situation and by 9.30pm MSK the operability of the trading system were restored.

rts.micex.ru...

Calm down guys, it's not the end of the world yet.

I dont see any other news anywhere. We need some people from Russia to give us some information. Must be something major for the market to just be closed like that. Someone who speaks Russian should call them up and see what they say.

This have anything to do with Putins wife going missing? I saw that on aol neews this morning. Any thoughts?

Originally posted by Myendica
This have anything to do with Putins wife going missing? I saw that on aol neews this morning. Any thoughts?

No, I don't think so. If anything, like someone in the article said...he has her tucked away in a *quiet* place while he plays. He has the reputation for being quite the Lothario...

Des

For anyone who cares,,,update

www.bloomberg.com...
Stocks Drop to 3-Month Low on Shrinking Output: Russia Overnight
quote from article
"False data was reflected in the trading system for an unknown reason and the Micex-RTS is undertaking an investigation, he said.
It was the second trading halt since the Micex and RTS exchanges merged in December and the third in the past 12 months, Nikita Bekasov, spokesman for the exchange, said yesterday by phone.
False data was reflected in the trading system for an unknown reason and the Micex-RTS is undertaking an investigation,
he said.
“We hope there will be no loss to anyone,”
Bekasov said,
adding that equities and bonds trading on the Micex’s main market were affected.
“We treated the situation as an emergency,
making sure no one left work
here at the Micex before
the system was restored.”
unquote

"making sure no one left work",,,
i can imagine only that conversation,,mnaybe something like this,,,

Natasha,,,,,"False data was reflected in the trading system"
commrade,,,
Boris,,,replies
actually
no
it's true that the stocks fell by that,,, % ,,is correct.
,,,commrade,,,Natasha,,

you are not listening,,Boris,,,"no one leaves till we get our money back",,commrade,,

"ohhhhhhhhhh ,,u mean",,,replied Boris,
"no one",,
Natasha,,smiled,,,

"ohhhhhhhhhhhhhhh"

the end.

tough place too work i bet!