This is bullshit. Someone is trying to fuck with people here. I’d ignore the “crisis” reaction in Asian trade tonight. The Heng Seng went “ex-dividend”, which is exaggerating the move lower.
If you enjoy the content at iBankCoin, please follow us on Twitter“The Chinese government’s intention is very clear: it will not roll out another massive stimulus plan to seek high economic growth,” Xinhua said in the seventh paragraph of a Chinese- language article on economic policy. “The current efforts for stabilizing growth will not repeat the old way of three years ago.”
Premier Wen Jiabao’s call last week to focus more on boosting economic growth has spurred speculation the nation will step up measures to boost expansion that’s set to slow for a sixth straight quarter. Economists at Credit Suisse Group AG and Standard Chartered Plc said yesterday that stimulus is likely to be smaller than the 4 trillion yuan ($630 billion at today’s exchange rate) package announced in 2008.
Credit Suisse economists said spending on investment will probably range from 1 trillion yuan to 2 trillion yuan. Standard Chartered said China is starting a “mini-me” version of the prior stimulus.
