Stock market ‘circuit breaker’ fails to stop social media mockery

Source:Global Times Published: 2016-1-7 21:28:01

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Stock market 'circuit breaker' fails to stop social media mockery 

Though China's new "circuit breaker" halted trading as the Shanghai and Shenzhen stock markets tumbled Thursday, the mechanism failed to put the brakes on netizens, who were quick to mock the sudden stop.

"The circuit breaker is just like your girlfriend. If you can't cheer her up within 15 minutes after she gets pissed off at you, she'll ignore you for the rest of the day," wrote Sina Weibo user "Cinderella."

The CSI 300 index of blue chip stocks slumped more than 5 percent less than 15 minutes after the market opening on Thursday morning, triggering a 15-minute break in trading, the Xinhua News Agency reported.

Three minutes after trading resumed, the CSI 300 index fell more than 7 percent, leading to a halt in trading for the rest of the day.

Chinese social media, however, was just getting started.

"Brokers and dealers have the best job in the world: conference at 8:30 am, cup of tea at 9:00, clean up at 9:30, and call it a day by 9:45," wrote net user "Zifeiyu."

"I strongly recommend having a circuit breaker during final exams," one student commented. "Stop the clock for an hour when 5 percent of the students agree they cannot work out a question, and end the exam when 7 percent said they still cannot work it out."

"They were just testing to see whether Chinese shareholders really understand how the mechanism works," wrote a Net user in Beijing.

The halt early Thursday marks the second time the new circuit breaker mechanism was pulled since being enacted Monday.

Posted in: Odd News

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