The world — especially as it relates to stock markets — really is a small place.
Case in point: The Chinese government rigged its stock market before trading began this week. And that, in turn, helped US equities stage a strong rally on Monday.
The news about China came courtesy of Bloomberg, which reported from Asia that “over the weekend, the China Securities Regulatory Commission and other regulators sent informal directives to some major stockholders encouraging them to purchase more shares in the mainland-listed firms they invest in.”
The term “informal” really doesn’t apply to the Chinese government. Its requests are really commands.
Quoting anonymous sources, Bloomberg also said that Chinese officials called some mutual funds and told them “to avoid being net sellers of equities as well.”
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
2 comments:
It is. Corn is subsidized out the ears. No pun intended.
Right.
The fat cats on Wall Street would never rig a market.
LIBOR, COMEX, FOREX, Stock Market, so on.
There has only been a TON of evidence that Wall Street operatives have rigged both COMEX and LIBOR.
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