China stock market soars +9,3% today

M

Michael88

SHANGHAI, April 24 (Reuters) - China's main stock index soared over 9 percent in frenzied trade on Thursday after the government cut the share trading tax, seeking to end a bear market that had slashed stock prices by half in six months.
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+9.3% not bad... Real end of bear market in China or small rally that will be exhausted in two or three days ? :)
 
If you think reducing the cost of buying by 0.2% has increased the intrinsic value of Chinese stocks by more than 9.3% overnight, then go ahead and add some Chinese stocks. Otherwise you should maintain, or possibly slightly reduce, your pre-announcement position.
 
Hi Cutten,

I think it wont last long time but chinese population is famous for their "optimistim" about investing in stock markets or gambling, see how their index moved up and down these last 10 months...
 
0.2%


too funny, i heard this last night on bloomberg, could not believe the rally that took place over such news....

they showed the difference between August 2007 and April 2008, the trading floors where people used to trade the Shanghai is completely empty....they said 70% of the trading that went on in that market was by INDIVIDUAL INVESTORS...
 
Quote from stock_trad3r:

Going back to 6000 soon
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Im sure any investor who got in will quickly take profits on the way back up keeping the market in a sideways trading environment.
 
Quote from S2007S:

0.2%


too funny, i heard this last night on bloomberg, could not believe the rally that took place over such news....

they showed the difference between August 2007 and April 2008, the trading floors where people used to trade the Shanghai is completely empty....they said 70% of the trading that went on in that market was by INDIVIDUAL INVESTORS...
More...

it was way oversold which is why it bounced back so hard. From 6000 to 3200 on panic selling and profit taking. The chinese econony is booming and here is no reason why it wou;dn't rebound to 6000 soon.
 
Quote from S2007S:

Im sure any investor who got in will quickly take profits on the way back up keeping the market in a sideways trading environment.
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No kidding. Check out CAF today. People couldn't wait to sell that puppy after yesterday's move. 47 and c'ya all the way down to 45.66.

Full disclosure - long CAF :D
 
The Chinese Communists lowered taxes, that is why there was a blizzard overthere. Meanwhile the American Communists want to raise taxes ... when are they going to get back with the party line? Or are they intentionally drying to depress the NYSE ?
 
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