China shuts stock market after 7% meltdown in 15 minutes of trade

[vgane]

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Weak factory data, Yuan near four and half year low and anticipated Yuan depreciation have triggered the massive collapse!


[h=1]CHINA SHUTS STOCK MARKET AFTER 7% MELTDOWN IN 15 MINUTES OF TRADE[/h] David Scutt, Paul Colgan Yesterday at 12:27 PM




Photo by ChinaFotoPress/Getty Images

China has shut its share market for the day after a meltdown in early trade.


Shares plunged 5% when the market opened, triggering a new “circuit-breaker” closure of markets for 15 minutes.


When trade resumed, the selling continued, with the benchmark CSI300 falling through 7%, triggering an automatic shutdown of trading for the rest of the day.


The market was only open for around 15 minutes of trade.


It’s the second time this week that China has had to shut its markets under the new rules designed to avoid panic selling of shares. But today, the circuit-breakers were invoked much faster than they were earlier in the week.



http://www.businessinsider.com.au/chinas-currency-rout-is-rocking-markets-again-2016-1?wt=2

 

[mkrishna100]

Is 2016 Going to be the next 2008 , there is a saying that the stock markers corrects heavily every 7 years .

 

[krish44]

indian stock market gave a reaction yesterday by plunging 500 points and recovered.

todays nifty s 7611 and exchange rate rs 66.72 to dollar on share openng.

india is resilient and can absorb some shocks.

now our markets react maturely to events.

the stance of inflation control thru monetory means is paying rich dividends.

though our growth is taking a hit with expensive money and high interest rate, we are more secure than most emerging

markets.

we need a change of finance minister if indian economy is to prosper.

untll then tamil brahmins officials and governor will drive indian economy.

 

[yesmohan]

Circuit breakers will save the innocent traders who are caught in between, at least to some extent.

 

[tbs]

indian stock market gave a reaction yesterday by plunging 500 points and recovered.

todays nifty s 7611 and exchange rate rs 66.72 to dollar on share openng.

india is resilient and can absorb some shocks.

now our markets react maturely to events.

the stance of inflation control thru monetory means is paying rich dividends.

though our growth is taking a hit with expensive money and high interest rate, we are more secure than most emerging

markets.

we need a change of finance minister if indian economy is to prosper.

untll then tamil brahmins officials and governor will drive indian economy.

hi

generally finance minister portfolio to TAMIL AND MAINLY TAMIL BRAHMINS TOO.....

 

[vgane]

Dr Swamy has predicted mayhem shortly in stock markets! Beware of the impending doom!

This is what he actually says in Twitter " India stock exchanges will soon be hit by a tornado because Derivatives divided by equity value =14!! In US stock exchange it is just 2"

 

[biswa]

Shouldn't the finance ministry portfolio be given to Marwadis? But I think they are really too busy making money to bother with this.

 

[yesmohan]

Shouldn't the finance ministry portfolio be given to Marwadis? But I think they are really too busy making money to bother with this.

Mr.tbs has meant something else.

 

[tbs]

Mr.tbs has meant something else.

hi

yes.....any central govt prefer tamil brains for finance.....

 

[yesmohan]

India is resilient and can absorb some shocks !!!!!!!!!!!.

How? INDIAN MARKET Circuit breakers........... limit is too wide. Now no body can scale the wall.

The index-based market-wide circuit breaker system applies at 3 stages of the index movement, either way viz. at 10%, 15% and 20%. These circuit breakers when triggered bring about a coordinated trading halt in all equity and equity derivative markets nationwide. The market-wide circuit breakers are triggered by movement of either the BSE Sensex or the Nifty 50, whichever is breached earlier. In this regard the Exchange has issued a circular no 85/2013 (Download No-24709) dated October 11, 2013.
The market shall re-open, after index based market-wide circuit filter breach, with a pre-open call auction session. The extent of duration of the market halt and pre-open session is as given below:
[TABLE="width: 500"]
[TR]
[TD]Trigger limit[/TD]
[TD]Trigger time[/TD]
[TD]Market halt duration[/TD]
[TD]Pre-open call auction session post market halt[/TD]
[/TR]
[TR]
[TD]10%[/TD]
[TD]Before 1:00 pm.[/TD]
[TD]45 Minutes[/TD]
[TD]15 Minutes[/TD]
[/TR]
[TR]
[TD]At or after 1:00 pm upto 2.30 pm[/TD]
[TD]15 Minutes[/TD]
[TD]15 Minutes[/TD]
[/TR]
[TR]
[TD]At or after 2.30 pm[/TD]
[TD] No halt[/TD]
[TD]Not applicable[/TD]
[/TR]
[TR]
[TD]15%[/TD]
[TD]Before 1 pm[/TD]
[TD]1 hour 45 minutes[/TD]
[TD]15 Minutes[/TD]
[/TR]
[TR]
[TD]At or after 1:00 pm before 2:00 pm[/TD]
[TD]45 Minutes[/TD]
[TD]15 Minutes[/TD]
[/TR]
[TR]
[TD]On or after 2:00 pm[/TD]
[TD]Remainder of the day[/TD]
[TD]Not applicable[/TD]
[/TR]
[TR]
[TD]20%[/TD]
[TD]Any time during market hours[/TD]
[TD]Remainder of the day[/TD]
[TD]Not applicable[/TD]
[/TR]
[/TABLE]
Exchange shall compute the Index circuit breaker limits for 10%, 15% and 20% levels on a daily basis based on the previous day's closing level of the index rounded off to the nearest tick size.

The circuit breaker limit for NIFTY 50 ON 09.01.2016 is

Daily Market Wide Circuit Filter
[TABLE="width: 450"]
[TR]
[TD]NIFTY 50 Closing As on 08-Jan-2016[/TD]
[TD]7601.35[/TD]
[/TR]
[TR]
[TD]Index Circuit Filter Trigger Limit[/TD]
[TD]Equivalent Point (+/-) for 11-Jan-2016[/TD]
[/TR]
[TR]
[TD]10%[/TD]
[TD]760.15 **[/TD]
[/TR]
[TR]
[TD]15%[/TD]
[TD]1140.20**[/TD]
[/TR]
[TR]
[TD]20%[/TD]
[TD]1520.25**[/TD]
[/TR]
[/TABLE]

** NIFTY 50 has to go ....up / low these much of points on 09.01.206 to warrant the stopping of trade.

 

[tbs]

hi

i heard that brazil is under recession...

 

[tbs]

hi

india has to be very careful.....not depending on outside....invest in inside,,,,,

 

[asadu]

Does this include what RBI Gov. frequently says., "Banks overweighted" ? NPAs bothersome, major resurrection on PSU Banks ? Liquidation problems ? .... ? ....... ?

 

[sowmyasubbaraman]

Very good information for understanding about the stock market functioning:rockon:

 

[vgane]

Russia's economy is also in pretty bad shape on account of record low oil prices!