1.8% range in Shanghai Composite is narrowest since May 18
It's been a wild ride in Chinese stocks for the past three weeks but traders have got a chance to take a bit of a breath with 'only' a 1.8% range today. The index is down 0.4% at the moment and has been mostly lower.
Earlier today, Bill Gross said Chinese stocks were his next big short "just not yet".
Shanghai Composite
Update: ... well that didn't last long. Almost the moment I hit the publish button, the Shanghai Composite tanked below yesterday's lows. Never a dull moment in Chinese stocks.
Update 2: My friend John T reports to me that a large Chinese brokerage house has halted margin financing on the ChiNext market, effective today. That may have kicked off the selling.
