- Bourses in China, Hong Kong, Japan and Australia all rising
- Bank of Japan chief plays down impact from China
- Tom Phillips on the struggles of China’s poor
- Find out how the Dow surged 619 points on Wednesday
Follow the day’s events with Martin Farrer.
Interesting piece on Reuters about how some of the problems could be down to the loss of key regulatory personnel.
After the GFC, it says, Beijing poached top Chinese talent from overseas banks to come home and overhaul the country’s financial system. But by June this year, they’d become disillusioned and headed back to the private sector:
The best and brightest returnees, known in China as “sea turtles”, had already left for the private sector, disillusioned and disappointed.
A former official at the China Securities Regulatory Commission, one of a group of 20 high-profile returnees, recalled the CSRC’s appeal to make “sacrifices for the motherland”.
Fairly steady on the markets still. Tokyo is well-placed at lunch having put on 1.89% without loss, while in Australia the ASX is batting through the break at +1.28%.
In China, the Shanghai Comp has played a riskier knock but is up 1.55% for the day so far despite nearly falling into the trap earlier in the session.
Source: The Guardian Circular Economy RSS