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2022-03-15 China-Japan-Koreas
Panic Selling Grips Chinese Stocks in Biggest Plunge Since 2008
Post and story from a TW comment and link last evening.
(Bloomberg) -- Chinese stocks listed in Hong Kong had their worst day since the global financial crisis, as concerns over Beijing’s close relationship with Russia and renewed regulatory risks sparked panic selling.

The Hang Seng China Enterprises Index closed down 7.2% on Monday, the biggest drop since November 2008. The Hang Sang Tech Index tumbled 11% in its worst decline since the gauge was launched in July 2020, wiping out $2.1 trillion in value since a year-earlier peak.

The broad rout follows a report citing U.S. officials that Russia has asked China for military assistance for its war in Ukraine. Even as China denied the report, traders worry that Beijing’s potential overture toward Vladimir Putin could bring a global backlash against Chinese firms, even sanctions. Sentiment was also hurt by a Covid-induced lockdown in the southern city of Shenzhen, a key tech hub, and the northern province of Jilin.

That comes on top of a spate of regulatory worries. Tencent Holdings Ltd. is reportedly facing a possible record fine for violations of anti money-laundering rules, which pushed the stock down nearly 10% on Monday. There’s also a risk of Chinese firms delisting from the U.S., as the Securities and Exchange Commission identified some names as part of a crackdown on foreign firms that refuse to open their books to U.S. regulators.
This is indeed a significant development. The Russian stock market has crumbled. It is likely Chinese investors have a fear that their US 'box store' cash cow could be put on indefinite hold, not to mention US grain imports. Eating appears to have become a habit in China. Teaching moment to be found here somewhere.
Posted by Besoeker 2022-03-15 00:00|| || Front Page|| [11127 views ]  Top
 File under: Commies 

#1 On Sunday, China ordered all of Shenzhen's 17.5 million residents into a seven-day lockdown, with three rounds of testing. All public transport is halted and all businesses, except essential services, will be closed until March 20.

As a result, Apple supplier Foxconn has shut two of its plants in the area and relocated production elsewhere.

The lockdown and outbreaks threaten manufacturing and tech production in Shenzhen, known as China's Silicon Valley. It's home to Huawei and Tencent, and is home to one of the country's key ports.

Try this on for size.
Posted by Vespasian Ebboting9735 2022-03-15 07:32||   2022-03-15 07:32|| Front Page Top

#2 May you live in interesting times
Posted by Procopius2k 2022-03-15 09:06||   2022-03-15 09:06|| Front Page Top

#3 Sentiment was also hurt by a Covid-induced lockdown in the southern city of Shenzhen, a key tech hub, and the northern province of Jilin.

Rumors of, or at least preparations for, 2 months.
Posted by swksvolFF 2022-03-15 10:07||   2022-03-15 10:07|| Front Page Top

#4 The CCP will just 'adjust' the data and everything will be peachy by next week.
Posted by Mullah Richard OTR 2022-03-15 10:11||   2022-03-15 10:11|| Front Page Top

#5 These moves can't be popular with a lot of Chinese, especially the upper class movers and shakers.

Wouldn't be surprised at a "Khrushchev moment" for Xi. People are always invincible until they aren't.
Posted by Tom 2022-03-15 11:27||   2022-03-15 11:27|| Front Page Top

#6 DOW is up 328 right now. Seems that "decoupling" is well underway...
Posted by M. Murcek 2022-03-15 11:29||   2022-03-15 11:29|| Front Page Top

#7 ^ No. Dow is a yo-yo now. VIX is up 62% today
Posted by Spavish Bucket6179 2022-03-15 11:36||   2022-03-15 11:36|| Front Page Top

#8 These moves can't be popular with a lot of Chinese, especially the upper class movers and shakers.

It may sound a bit tin chapeau, but i wonder if what happens in a region the average social credit score goes below a certain number...
Posted by swksvolFF 2022-03-15 11:58||   2022-03-15 11:58|| Front Page Top

#9 VIX is up 62% today

Mmm, it's not. Chicago Board Options Exchange's CBOE Volatility Index (VIX) has been wavering between 29 and 33 for the last week. As I type, it's just under 31. Average for the last 5 days is -1.76%.
Posted by Mullah Richard OTR 2022-03-15 14:02||   2022-03-15 14:02|| Front Page Top

#10 And the Dow is not a serious yo-yo. +427.39 (1.30%) today.

Low for week 32,989.27
High for week 33,444.00
Posted by Mullah Richard OTR 2022-03-15 14:06||   2022-03-15 14:06|| Front Page Top

#11 INDEXCBOE: VIX is up 86.99% YTD/since January 1
Posted by Spusoth and Tenille9182 2022-03-15 14:46||   2022-03-15 14:46|| Front Page Top

#12 Up 86.99% YTD/since January 1 is a bit different than "VIX is up 62% today"
Posted by Mullah Richard OTR 2022-03-15 15:14||   2022-03-15 15:14|| Front Page Top

08:05 Grom the Affective
08:02 Procopius2k
08:01 Procopius2k
07:59 Procopius2k
07:41 Procopius2k
07:37 Procopius2k
07:37 Super Hose
07:36 Besoeker
07:35 Besoeker
07:33 Super Hose
07:33 Besoeker
07:32 Super Hose
07:29 Super Hose
07:28 Super Hose
07:26 Besoeker
07:23 badanov
07:09 Besoeker
07:01 Besoeker
06:45 Besoeker
06:43 Richard+Aubrey+
06:38 NN2N1
06:28 Grom the Affective
06:25 Grom the Affective
06:23 Besoeker









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