You like to go home early??.......then Chinese stock market is ideal pace for you.
Chinese stock market had its shortest trading session ever, of around 14 minutes, after which trading just got halted for the day. Thanks to the new circuit breaker system, introduced this year, trading got halted two times already this week. First trigger is set at 5%, which would lead to trading halt of 15 minutes and a drop of 7% would halt trading for the day.
Although the move is meant to reduce volatility in the market, retail traders are accusing it of unnecessary panic. A man named lee, pointed out that even during August market was bouncing back sometimes in late session but now his money got trapped within first half an hour of trade and he would try to pull it out at the very next trading session.
Shanghai composite, closed at 3115.9, few hundreds point shy of August low.
Analysts are point out compared to global standards, gap between the two circuit breakers are low, especially for world's most volatile stock market.
Though, stock market remain an area of concern, but we at FxWirePro, believe real crux lies with Chinese currency Yuan, which is down -0.7% in the onshore market, trading at 6.6 per Dollar.
