“The system doesn’t work and until it is withdrawn or modified we can expect to see further use and perhaps shorter trading periods than we saw last night.”
“The wider problem is the Chinese economy slowing and the Chinese authorities doing what they can to stimulate growth,” Dampier continued. “Investors are nervous of economic slowdown and after losing all the gains we saw in the year to August 2015 the Chinese authorities are trying to prop up the markets with various artificial measures. The interference by the authorities is simply delaying the inevitable. The market needs to find its own level so we will see more volatility in global markets until it does.”
