Hang Seng posted three days of expansion reaching again 25000. Wall Street jumped and the euro rallied on optimism that Greece would be able to secure fresh funding at an upcoming weekend meeting, while Treasuries plummeted. Gold traded higher, but pared earlier gains as the Fed signaled a rate hike in this year and
“If market conditions do not stabilize, we expect a statement of ‘whatever it takes’ from the Chinese government, given that social stability is at stake and financial systemic risks are evident.” Â This is good stock performance in the short term however this is not how the market show ideally operate. The SPX open with a
Overnight Shanghai plunged another 5.9%. Now the Shanghai has plunged 32% since mid-June. On the other hand, Greece promised to implement pension and tax reforms as early as next week as the first step to securing a three-year rescue loan to cover debt obligations, according to a letter requesting the funding from European partners on Wednesday.
The bubble in the Chinese stock market is beginning to  be pricked.  The government is trying to prop up the stock market.  The government has thrown in everything but the kitchen sink.  It has reduced interest rates, relaxed lending requirements, allowed pension funds to buy stocks, is even allowing apartments to be used as a
