China’s problems are growing… and their ability to ‘fix’ it seems to be fading fast.
Having strong-armed funds into ‘not selling’ stock last week , then strongly-suggesting that companies escalate their share buyback programs (and then bullying banks into buying yuan to support the currency against the green back ), and then clearly stepping with a ‘National Team’ panic bid (that didn’t work) Beijing was faced with the reality that nothing was working with Chinese stocks tumbling still .
Most problematically, the half-lifes of these interventions is shrinking rapidly… And as Bloomberg reports, overnight saw the shortest duration of post-stimulus gains yet… The Friday afternoon unveiling of property stimulus measures sparked an initial flurry of buying , with China’s benchmark CSI 300 Index reversing losses to climb as much as 0.3%.
But the gauge resumed declines after about 10 minutes, and within 30 minutes, CSI 300 had hit fresh session lows… “The […]
Read the Whole Article From the Source: www.zerohedge.com
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