| SamuelRSmith said:
Stocks "rebounded" because selling and shorting became "illegal" for a lot of players, and over half the market has suspended trading, and because Beijing was buying a bunch of stocks by itself. One of my colleagues (I work in finance) calculated that Beijing has set aside enough cash to boost markets for around 10 days, given expected volumes. It's no longer a "market" so it's hard to say whether it'll hold "long term" or whether spurgeonryan should jump in (why I didn't respond to his question). The entire Chinese market is now based on political capital (whether Beijing has the repuation or will to continue the cherade). The rest of what I said I'm confident in, though, regarding USD, US Treasuries, and property in the locations I listed in my OP. |
So China is putting its own treasury into the stock exchange to keep the private companies from collapsing, kinda like a bail out?
