iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
16,024 Blog Posts

SHOCK CLAIM: China’s Stock Market is Totally Rigged

After last year’s market rout in China, accompanied by an FX crisis that presented the great dog eating nation with horrible problems, the Shanghai has been under complete government control. Some cynics out there might call it ‘rigged.’

The Shanghai has now gone 84 trading days without going down by 1% — the longest stretch since their experiment in stock market shenanigans began in 1992. Of the 13 trading days that the index dared to trade down by 1% or more, the index always rebounded into the close. I am sure it’s all a great coincidence, that the biggest and shittiest and most overvalued market in the world is suddenly and inexorably docile.

Nothing to see here. You must all be getting tired now after a long day’s work. You should stop reading this now and go tuck yourselves into bed. Soooo sleepy, ZzZzZzZ.

According to an unnamed source talking to Bloomberg, the Chinese government has been ‘limiting the extent of declines’ by injecting funds into stocks. You don’t say?

CSRC Chairman Liu Shiyu said last year that the state will intervene “decisively” if needed to bolster the market, while stability has been a key focus of policy makers in 2017 as the ruling Communist Party prepares for a twice-a-decade leadership reshuffle toward year-end.

Authorities favor a steady stock market because it helps companies fund investment and repay debt by issuing new shares, which could help boost economic growth, according to Yin Ming, a vice president at Baptized Capital in Shanghai.

“The national team is behind it,” Yin said. “State funds will likely continue to be a market stabilizer.”

How wonderful. I can’t envision anything that could ever derail such a great plan. What can go wrong?

If you enjoy the content at iBankCoin, please follow us on Twitter

13 comments

  1. frog

    I know an American who lives in China. She says that just about everything in China is rigged or done with bribes etc. but that they seem to be doing well nevertheless, lately.

    • 0
    • 0
    • 3 Deem this to be "Fake News"
    • ironbird

      How about the Commie death cult propagandist cunt that lives in these hallowed halls. Look frog. You will burn in Hell. That is a fact. You are so evil there is no name for it. So. Satanic Bitch. Free of charge.

      • 2
      • 5
      • 0 Deem this to be "Fake News"
      • thinair

        There is no such thing as hell, except in our own minds

        • 1
        • 0
        • 0 Deem this to be "Fake News"
      • Dr. Fly

        Why are we so mad at Frog? She may be disillusioned crackpot. But she’s our crack pot.

        • 2
        • 1
        • 0 Deem this to be "Fake News"
        • ironbird

          Apologies Senor Fly and to the Hallowed Halls. And most importantly to frog. In a moment of pathetic douchebaggery linked propaganda to recent events in Cali. That is no excuse. Going jackass was a mistake. Plain and simple.

          • 1
          • 0
          • 0 Deem this to be "Fake News"
  2. sarcrilege

    In principal, the market rigging done by the Plunge Protection Team and the FED via Citadel et. al. is no different than what the Chineez are doing; it’s just a bit more subtle to confuse and sucker in the dumbshits to play in the US markets. That’s all. Carry on.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. stockslueth

    “I’m shocked, shocked to find that gambling is going on in here!”
    [a croupier hands Renault a pile of money] – Captain Renault in Casablanca

    • 1
    • 0
    • 0 Deem this to be "Fake News"
  4. mushroomz

    Chinese foreign reserves trending down, off 25% from the peak a couple years ago. It will be alarming if reserves continue down rapidly.
    http://www.tradingeconomics.com/china/foreign-exchange-reserves

    They did however acumulate a larger reserve of gold with said moneys.
    http://www.tradingeconomics.com/china/gold-reserves

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  5. thinair

    Our market isn’t very different.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. ericbakerbruce

    Chanos is screwed.

    • 1
    • 0
    • 0 Deem this to be "Fake News"
  7. tradingnymph

    SO beyond duh. It’s been happening for such a long time. You can even tell when they enter.

    • 0
    • 0
    • 0 Deem this to be "Fake News"