Bluster, not bull market

Yesterday I asked if the day’s stock market rally was a real bull market or merely bluster (paywall) after a government propaganda campaign to restore confidence. Well, today we have the answer:

“A two-day rally sputtered out for the Shanghai Composite despite all the jawboning from Beijing officials, with an equity selloff spreading globally,” reports MarketWatch, quoting an analyst who says that “China’s stock selloff could wreak a lot more havoc before it’s over.” Further reporting:

• Dow tumbles nearly 550 points at lows amid corporate outlook, China selloff / Market Watch
• Here’s everything China is doing to support its stock market / Bloomberg (porous paywall)
• China keeps stimulus drip-feed going as stocks stumble again / Bloomberg (porous paywall)

https://thechinaproject.com/2018/10/22/a-great-day-for-the-chinese-stock-market-amid-anxiety/