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Chinese Stocks Pump’n'Dump After RRR Cut, Retrace Friday’s Crash

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

After crashing 6-7% on Friday (depending on which Chinese stock index you prefer) – all after the cash markets closed in China – thanks to today’s major RRR cut, China stock futures are up 7% from Friday’s US session close. However, while futures have recovered all those losses, the Shanghai Composite cash index is trading modestly lower from its Friday cash close levels (we suspect a little disappointingly to some) after recovering the entire loss from post-China-close Friday.

Futures ripped back…

Just looking at the cash Shanghai Composite index – you’d never know it crashed… but it’s fading back lower again now…

We suspect this is not the exuberance many had expected…

Charts: Bloomberg


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