The Shanghai stock market opened and crashed 8% but has since recovered to -6%:
Chinext is the laggard, down only 2%:
But perhaps there are no tech stocks left to sell. From the AFR:
More than half the stocks listed on Chinese sharemarkets were suspended from trading ahead of the opening bell on Wednesday, as rumours circulate of an 80 billion yuan ($17.3 billion) bail-out fund being readied.
In a bid to provide an illusion of stability as small investors exit the market, a further 660 companies asked for their shares to be suspended ahead of today’s market open.
That takes the total number of companies suspended to 1429 out of the 2776 stocks listed in either Shanghai or Shenzhen, according to the National Business Daily.
The emperor is starkers.
