Friday was a truly dark day for Chinese equities.
At one point, the Shanghai Composite Index was down much as 6.1% afternoon trading. That would be the biggest intraday drop in almost two years.
To be clear, this has been in the making for days. As we wrote on Thursday, “the SHCOMP looks like it’s going into a death spiral.” But Friday was the culmination.
Although mainland shares would trim some of those intraday losses, the SHCOMP close down by more than 4%. More than 50 companies were limit down.
Full post with all of the decidedly dour visuals from mainland and Hong Kong, here: