China’s Shanghai market has given back all its gains since 2014
Overnight--and that means before the latest saber rattling today from Washington and Beijing--the Shanghai Composite Index dropped another 1.1% to 2651.79. That took the market below the January 2016 bottom of one of the market's worst ever routs. The Shanghai index...Beijing is still putting cash into Shanghai stocks but only after 2 p.m. and only into the biggest of big caps
Today it’s clear that that the government’s new policy of no direct purchases really means no direct buying for most of the day and then direct buying of shares of only the biggest companies on the Shanghai exchange in the last hour or two of trading.