08.18 21:30 ET BREAKING NEWS: Chinese Stock Markets Continue to Crash Down over 2.5% on the Open

by John Galt August 18, 2015 21:40 ET So much for the PBOC (People’s Bank of China) fixing this with $40 billion spent on equities. The open this morning is brutal as displayed below: This could be another ugly day if we have a follow through decline on top of the 6.15% decline yesterday. (prices delayed 15 mins) Now the breaking news is that the Vietnamese Central Bank has devalued their currency, the Dong, by 1% to keep pace with the Chinese, Malaysian, and Indonesian devaluations as the currency war accelerates….

While you were Asleep, the Chinese Stock Market Crashed 6.15%

by John Galt August 18, 2015 05:15  ET The experts all hailed the PBOC’s fix of their equity markets. Until of course it doesn’t work which would be today. The close was just plain ugly and appears to indicate that gravity has re-asserted itself with Chinese stock prices: The big news was a decline of 4.3% in industrial production in July from another decline in June. This indicator is viewed as a slow down in the Chinese economy but in reality is reflective of the US and European economies also starting…

%d bloggers like this: