[adventured]

As of the open today, ChiNext was down 41% in a month.

As of right now, 90% of China's entire stock market is frozen. It's absolutely a 1929 style disaster. Were the authorities not stepping in constantly, the carnage would be far worse already - which is another way of saying, eventually it will get there no matter what they do.

http://www.bloomberg.com/quote/SZ399006:IND

[seanmcdirmid]

The 10% limits on falls each day are horrible this way. It actually creates a continually falling market, we won't know how bad this crash really is for awhile.

[laichzeit0]

Do they also have limits on 10% rise each day?

[adventured]

Yes, stocks can only climb by 10% max per day.

That led to some bizarre circumstances, where new IPOs during the upside mania were going up by the limit every day for weeks after the IPO.

[seanmcdirmid]

Yes, the blue chips that the government is pumping money into are bumping up against those limits also. Really really messed up.