China Suspends Circuit-Breaker Rule – “This Is Insane; We Were Forced To Liquidate All Our Holdings This Morning”

by Tyler Durden
ZeroHedge.com
01/07/2016

Update: *CHINA SUSPENDS STOCK CIRCUIT BREAKER RULE – In Q&A, CSRC insists circuit breakers didn’t cause the China meltdown but admits they may have aggravated sell-off.

“It couldn’t be worse,” exclaims one manger who started his fund mid-year in 2015, blaming China’s equity market carnage on its newly-created circuit-breakers (as opposed to the fact that the Chinese market trades at 64x P/E and there are sellers everywhere). >”Panic will eventually turn into a buying opportunity,” hopes one strategist while another proclaims “poorly-designed” circuit breakers need to be adjusted to 10% (seriously). Blame is everywhere, but it is Chen Gang who summed up the panic best, “this is insane… we were forced to liquidate all our holdings this morning.”

The Rest…HERE

This entry was posted on Thursday, January 7th, 2016 at 11:24 am and is filed under China, Economics, Government Evil, New World Order. You can follow any responses to this entry through the RSS 2.0 feed.