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Share Sale Knocks Chinese Market

After I made a post about Euro American Index, I go to Google’s latest news headlines and found out this news:

Share Sale Knocks Chinese Market

The Chinese stock market has suffered its worst day of trading in 10 years after a large wave of share selling by leading investors.The benchmark Shanghai Composite Index fell nearly 9%, its worst daily performance since February 1997.

The fall comes amid rumours of a crackdown on illegal share offerings and trading, as well as fears about accelerating inflation.The drop triggered falls in other markets across Asia and Europe. In Hong Kong the Hang Seng index closed down 1.8%, while in Japan the Nikkei 225 index slid 0.5%. Markets in London, Frankfurt and Paris also opened sharply down with leading mining stocks – whose performance is influenced by the state of the Chinese economy – under pressure.

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The Shanghai bourse closed 8.84% or 282.43 points at 2.771.79, erasing US$140 billion (RM489.37 billion) of its market capitalisation. It was the biggest single-day fall in 10 years and was triggered by concerns that the government would crack down on illegal investments that had helped drive the benchmark indexes to record highs.

(Panic selling in Asia after Shanghai tumbles)

Now, I’m thinking about HYIP. Is this one of the factors?…