China Even More Scary Than Greece. Australian Stock Market Freaks Out

PA Pundits - International

Bolt New 01By Andrew Bolt ~

Greece is not the biggest problem. Watch out for this:

China’s stock markets face a make-or-break week after officials rolled out an unprecedented series of steps at the weekend to prevent a full-blown stock market crash that would threaten the world’s second-largest economy.

The government is anxiously awaiting the market opening on Monday to see if the new measures will halt a 30 percent plunge in the last three weeks…

But some context to this correction:

China stocks had more than doubled in just 12 months even as the economy cooled and company earnings weakened, resulting in a market that even China’s inherently bullish securities regulators eventually admitted had become too frothy.

The Australian stock market reacts badly to Greece and China, crashing almost a hundred points barely minutes after opening at 10AM:

stocks_thumbAndrew Bolt is a journalist and columnist writing for The Herald Sun in…

View original post 75 more words

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s