Evening wrap......
Morning tweets.....
Asia Watch......
China Caixin final August manufacturing PMI 47.3 (flash 47.1, 6.5-yr low). New orders, exports, employment, input prices all contracting.
These China markets, they make fools of us all...
CHINA SHANGHAI COMPOSITE SET TO OPEN DOWN 1.5% TO 3,157.83. Some poor journalist somewhere is crashing Chinese stocks again
PBOC SAID TO MAKE BANKS TRADING FX FORWARDS HOLD RESERVES: RTRS. Unclear what said banks will sell to fund FX purchases.
China Strengthens Yuan By Most Since Nov 2014 After PMI Hits 3-Year Low, PBOC Offers "Hope" As A Strategy For S... http://www.zerohedge.com/news/2015-08-31/china-strengthens-yuan-most-nov-2014-after-pmi-hits-3-year-low-pboc-offers-hope-stra …
CITIC chair urged all staff not to "believe or spread rumors" as the firm has enough liquidity and stable operation (despite recent arrests)
CITIC (aka "Goldman of China") chair admitted in letter to staff the firm is facing "significant challenges" (after arrests of key members)
Why China should care less about West: This is how much the world exported to China in 2014 http://econ.st/1EmSsi1
Morning tweets.....
Asia Watch......
#China Yuan continues to strengthen vs Dollar. USDCNY trades at 6.3748, best level since Aug11.
Thai police give themselves $84K reward for info on #BangkokBlast suspects for "diligence and hard work" #NotTheOnion http://time.com/4016752/bangkok-bombing-thai-police-rewards/?xid=tcoshare …
*DJ Toshiba Seeks Further Delay in Earnings Report, Until Sept. 7...still kicking that can. Sources warning of ¥100 bn loss for fiscal 2014.
RBI'S RAJAN: CENTRAL BANKS "ARE DONE"
#PBOC CONDUCTS SHORT-TERM LIQUIDITY OPERATIONS AT 2.35% - BBG
*PBOC INJECTS 140B YUAN LIQUIDITY VIA 6-DAY SLO OPERATIONS
Percentage of commodity based exports:
South Africa 86%
Australia 86%
Chile 92%
Indonesia 71%
Brazil 45%
[BREAKING] BBG Reporting That PBOC Said To Inject Liquidity Through S-Term Loans
Does a similar aphorism exist in Chinese? #ChinaMeltdown
Malaysia's PM reclaims streets after massive corruption protests: Malaysia's government recla... http://ab.co/1KxEXgL #australia #news
First oil field found in China, #Karamay has generated 300 mln tons of crude oil in 6 decades http://en.people.cn/n/2015/0831/c98649-8943899.html …
Google could face a $1.4b fine in India for rigging search results http://www.automoview.com/2015/08/google-could-face-14b-fine-in-india-for.html … #Technology #Automotive…
Japan Defense Ministry asks for record budget http://bit.ly/1Ev0ohN
China's National Team still at work. Large-cap buying into the close.
SH -0.8%
CSI300 +0.7%
SZ -3.1%
ChiNext -4.1%
Stock price of People's Daily Online on fire despite the fact two top leaders were investigated ?
'Peace not war!' Japanese hold massive rally to protest Abe’s foreign wars bill (PHOTO, VIDEO)
#Thailand court approves two more arrest warrants
http://www.nationmultimedia.com/breakingnews/Court-approves-two-more-arrest-warrants-30267800.html …
Wanted: female suspect by name of “Wanna Suansan”, and another male suspect (no name mentioned) #BangkokBlast
Defiant prime minister vows not to quit as Malaysia marks national day http://trib.al/IDUZ58S
Chinese fund managers cut equity allocations to record low for next 3 months on global volatility, weak yuan- Reuters http://uk.reuters.com/article/2015/08/31/china-funds-idUKL4N1161ZO20150831 …
#AIIB chief Jin Liqun is expected to visit South Korea next month, his first foreign trip since taking office.
No more fat finger trades! @DavidSchawel RMB200 futures trading contraption h/t @powers_chris http://world.taobao.com/item/520090884850.htm?fromSite=main&spm=a230r.1.14.74.CUP7D6&ns=1&abbucket=15#detail …
.@pressfreedom has asked Beijing to release Caijing reporter Wang Xiaolu, http://www.bbc.com/zhongwen/simp/china/2015/08/150831_china_stock_journalist_arrest …
#Malaysia protesters face uphill battle to dislodge Prime Minister Najib Razak
http://on.wsj.com/1JG0XRs
@HaidiLunCNA In a Chinese motto: 又要马儿好、又要马儿不吃草！
You don't feed your donkey with carrots but keep on pushing them to work!
Detained Caijing journo's "confession" to using "abnormal information channels & speculation" to write market report
Hahaha
Karnataka scholar MM Kalburgi, threatened over his writings, shot dead on his doorstep http://goo.gl/fwghvg
Good point @simonting- how does insider trading work when gov't issues buy directives to brokerages? Thankless task. http://www.bloomberg.com/news/articles/2015-08-31/confessions-made-by-four-executives-at-citic-xinhua-says …
A-Share biggest problem now:-
You are asking the securities houses to buy for PPT, and you are accusing them front-run, insider dealing !!
CHINA SAID TO ORDER BROKERAGES TO BOOST STOCK MARKET SUPPORT. While in the U.S. the NYFed tells Citadel to spoof ES or VIX
So what happens now to the rescue fund's holdings, buybacks et al? Nightmare clean-up of Beijing's gnarly market mess http://www.wsj.com/articles/chinas-next-problem-paying-for-its-stock-market-bailout-1440953986 …
We'll find out shortly just how much "China won't intervene any more in the market"
$200bn+ later, Beijing abandons massive stock purchases, intensifies witch-hunt for those “destabilising the market” http://www.ft.com/intl/cms/s/0/2f11ebdc-4ef3-11e5-b029-b9d50a74fd14.html#axzz3kM78eqoX …
Chinese Stocks Slump After "Arrest-Fest", Yuan Strengthens Most In 9 Months, Goldman Cuts Outlook http://www.zerohedge.com/news/2015-08-30/china-strengthens-yuan-most-9-months-goldman-slashes-growth-outlook …
Why Devaluing The Yuan Won't Help China's Economy http://www.zerohedge.com/news/2015-08-30/why-devaluing-yuan-wont-help-chinas-economy …
Goldman just cut China GDP: "we mark down our 2016/17/18 forecasts to 6.4%/6.1%/5.8% respectively from 6.7%/6.5%/6.2% previously"
China's stock options traders "most bearish" on record, says Borg, i.e. skew on the China 50 ETF is at all-time high http://www.bloomberg.com/news/articles/2015-08-30/if-the-options-market-is-right-china-s-stock-rescue-is-doomed …
JAPAN JULY OUTPUT FALLS 0.6% M/M; EST. +0.1%
The day the hockeystick died: IMF forecasts of China GDP since 2010
CHINA ABANDONS MASS SHARE BUYS; SHIFT FOCUS TO MANIPULATORS: FT. Mass execution of Virtu algos imminent
China to Fed: don't you dare hike rates http://www.zerohedge.com/news/2015-08-27/pboc-demands-fed-delay-rate-hike-reiterates-blame-market-rout-we-were-wronged …
Policy Confusion Reigns As China Caps Muni Debt, Uncaps Bank Debt, And Sees Bad Loans Soar http://www.zerohedge.com/news/2015-08-30/policy-confusion-reigns-china-caps-muni-debt-uncaps-bank-debt-and-sees-bad-loans-soa …
Black(er) Monday Looms: Dow Futures Down 220 After J-Hole Speech & China Fold http://www.zerohedge.com/news/2015-08-30/blacker-monday-looms-dow-futures-down-220-after-j-hole-speech-china-fold …
Alarms going off at BOJ FX desk
China won't intervene in the stock market. Except when it does
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