With pressure mounting and anxiety setting in, China’s stock markets are anticipating the comeback of the ‘national team,'” read the opening sentence of an early-Friday morning article from Beijing-based business media group Caixin. Sure enough, the Shanghai Composite rallied 4.1% off morning lows to close the session up 2.6%. The ChiNext growth index surged 5.6% from its opening level to gain 3.7% for the day. Friday’s afternoon rally, however, couldn’t erase the week’s losses. The Shanghai Composite ended this week down another 2.2%. ChiNext’s Friday melt-up reduced the week’s losses to 1.5%.
http://creditbubblebulletin.blogspot.com/2018/10/weekly-commentary-moscovici-and.html
