Chinese stocks are getting killed.
Goldman put out the following desk note specifically in response to the flood of questions coming from investors.
1) Concerns about Chinese PMI and possible slowdown of Chinese economy.
2) Merrill note yday discussing possible slowdown in China.
3) Market selling things that worked in the past – Gold, NFLX, etc.
4) Ongoing corp governance issues.
5) Qtr end might cause wholesale selling of anything Chinese due to uncertainty of “growth issue” in China.
6) Sector is broken and market is in attack mode. Desk has seen shorts being layed out.
Here are some of the stocks getting killed right now:
Sina (SINA): -10.34%
Sohu (SOHU): -9.89%
Baidu (BIDU): -9.89%
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