China stocks tumble again despite support measures

[unhappycamper]

http://atimes.com/2015/07/china-stocks-tumble-again-despite-support-measures/

Chinese shares sank further Tuesday despite government’s efforts to stop a fall that has wiped at least $3.2 trillion off markets

China stocks tumble again despite support measures
By AT Editor on July 7, 2015

Before the market opened, Li said in comments posted on a government website that China had the confidence and ability to deal with challenges faced by its economy, but had nothing to say on the three-week plunge that has knocked around 30 percent off Chinese shares since mid-June.

After a brief pause in the slide on Monday, the CSI300 index .CSI300 of the largest listed companies in Shanghai and Shenzhen fell 4.4 percent in morning trading on Tuesday, while the Shanghai Composite Index .SSEC shed 3.2 percent. [.SS]

The ChiNext growth board .CHINEXTC, home to some of China’s giddiest small-cap valuations, fell 5.1 percent.

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It appears China is having our 1929 moment.

[dixiegrrrrl]

1. China has forbidden pension funds from being sold.

Pension managers can only buy for the funds.

Would have been nice if they had done that here before 2008 crash.