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24 Aug 2015
China: Shanghai Composite hammered more than 7%
FXStreet (Bali) - Chinese stocks remain in free-fall, with the Shanghai Composite down by more than 7.25% at the time of writing.
No signs of PBOC RRR cut
The absence of any expected support from the PBOC during the weekend, via another RRR cut, has emboldened the negative sentiment momentum, with the current levels not seen since February. Meanwhile, the Shenzhen Composite has fallen by over 6.50 too, lowest since July 9.
PBOC magic hand soon to show up?
Chinese authorities are expected to intervene at some stage today to arrest the relentless sell-off in stocks, with the latest news over the weekend, via China's official news agency, Xinhua, that China has just finalized plans to let its state-control pension fund invest in the equity market for the first time.
No signs of PBOC RRR cut
The absence of any expected support from the PBOC during the weekend, via another RRR cut, has emboldened the negative sentiment momentum, with the current levels not seen since February. Meanwhile, the Shenzhen Composite has fallen by over 6.50 too, lowest since July 9.
PBOC magic hand soon to show up?
Chinese authorities are expected to intervene at some stage today to arrest the relentless sell-off in stocks, with the latest news over the weekend, via China's official news agency, Xinhua, that China has just finalized plans to let its state-control pension fund invest in the equity market for the first time.