China’s trading day lasted only 14 minutes
Total elapsed time for the trading session in Shanghai this Thursday? 14 minutes.
That’s how long it took for traders to decide they didn’t like what the Bank of China was doing with the Yuan — pushing the value down in order to boost the slowing Chinese economy. Circuit breakers were tripped, and by 10am in Shanghai, the main stock index there was off 7 percent. Trading had been called for the day. Marketplace’s China Correspondent Rob Schmitz gives us some important context on what went on.
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