Realizations and the tightening on collateral accepted by the central bank are sinking Shanghai. Following last month's super-rally following unexpected interest rate cuts, Chinese stocks closed their last session down by 5,43%, at 2.856 points. This is the worst collapse since 2009.
The price list still maintains a positive balance above 45 percentage points year to date. Only yesterday China's largest stock market crossed the 3.000 mark for the first time in three years.
In addition to the profit taking, the list discounted the worst decline in the last six years yuan following Beijing's crackdown on medium-term credit, which can no longer be backed by bonds rated below triple A.
Also conditioning the markets is the wait for the decision that the "Central Economic Work Conference“, the closed-door summit in which the leaders of the Party will decide the course of the economy. A downward revision of growth estimates for 2015 from +7,5 to +7% is possible.
And to think that just a few years ago Beijing had the problem of excessive double-digit growth (the last year of this type was 2010, with +10,4%) and the priority was the slowdown in the economy.
Today they closed in the red too Sidney (-1,68%), Tokyo (-0,68%), Taiwan (-0,64%) And Alone (-0,4%).
