September is usually a bad month for stocks.
The market just needed any trigger to push the sell button.
It got its reason today; from speculations that Evergrande will collapse and cause a domino effect - of course, many shorters pushed this theory across the market.
But Evergrande is Not Lehman (that's what it has been compared to).
This problem has been known for months. Still it got new impetus today, via news of imminent bond payments due - and a failure to meet its commitment, will cause a collapse, and domino throughout the housing sector in China.
IMHO, this latest news might cause a few days of fluctuations.
AIMHO.
CHN chart, page-538
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Last
$1.31 |
Change
0.020(1.55%) |
Mkt cap ! $509.5M | |||
| Open | High | Low | Value | Volume |
| $1.32 | $1.38 | $1.31 | $4.246M | 3.177M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 115841 | $1.30 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.31 | 37678 | 1 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| CHN (ASX) Chart |