Update 0950ET: Things went from bad to worst very fast...

  • *CHINA H-SHARE INDEX SLIDES 5%
  • *SHANGHAI COMPOSITE INDEX DROPS 5.3%
  • *CHINA SSE 50 INDEX OF BIG CAPS DROPS 7.5%
  • *TENCENT DROPS 5.1% TO TRADE BELOW HK$400

 

This is the big caps worst day since the Aug 2015 devaluation crash, and the worst week (unless The National Team steps in) since Lehman...

 

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After an insane winning streak in December and January, the Hang Seng has plummeted in the last few days and along with the rest of the major mainland China equity markets - has entered correction.

 

2018 started off so well in China...

 

But after an almost incessant ramp, China and Hong Kong stocks have crashed back to reality in the last few days...

Shanghai Composite is now at 7-month lows...

 

And Hang Seng is down 12% from its highs, back below 30,000...

The Yuan remains on edge as it tumbles most since the Aug 2015 devaluation...

 

And across the water, Japanese stocks are down 13% from their highs...