by Tyler Durden
Tuesday, Jul 27, 2021 - 10:01 PM
Earlier today we said that with Chinese stocks suffering historic losses, HK s tech sector imploding..
. and liquidation fears spreading to other, more serious products such as bonds and FX, it was only a matter of time before China s National Team , i.e., the local plunge protection team, came out in full force to preserve confidence in centrally planned markets.
Well, just a few hours later, we learned that sure enough, the local Chinese
bat signal summoning the plunge protectors has been activated with local press Securities Daily reporting that the plunge is unsustainable and will gradually stabilize. And since the media is merely a propaganda outlet to local state and central planners, it is telegraphing what will come next: a massive ramp in Chinese stocks.