Hong Kong stocks and mainland China markets fell sharply Monday while other major Asia-Pacific markets rose.
Hong Kong’s Hang Seng index spiraled down 6.36% to 15,180.69, its lowest levels since April 2009, with the Hang Seng Tech index down more than 9%.
Chinese stock markets suffered one of their worst ever trading days on Monday, amid fears that President Xi Jinping may use his re-election at the weekend to renew his campaign against the country's biggest businesses and their owners.
Hong Kong stocks were particularly badly affected, with the Hang Seng index falling as much as 6% and Hang Seng Tech Index Futures falling over 8.2% to an all-time low, after Xi completed his expected consolidation of power at the National People's Congress in dramatic circumstances.
In a speech at the congress, Xi had also called for “regulating the mechanism of wealth accumulation”, which was also seen as him taking aim at the country’s richest businessmen.
The NPC also confirmed widespread expectations that Xi would pack the Politburo’s standing committee, the most powerful decision-making body in the government, with his own loyalists. More pro-business figures familiar to western markets, such as Premier Li Keqiang and trade representative Liu He, were both removed from office.
However, Xi’s consolidation of power was most vividly illustrated by a piece of theatre toward the end of the Congress, when his predecessor Hu Jintao was escorted from the podium at Xi’s instruction, despite his visible reluctance to leave.
Hu had been the most powerful man in China for 10 years, and his apparently premeditated humiliation on national television sent a powerful message, analysts said.
“One thing for sure is that he wasn't feeling unwell or wanted to go to bathroom anything,” said John Hopkins Professor Ho-fung Hung tweeted, adding that Xi had called on aides to take him away, “nearly forcefully”.
#34 - War is good for business.
#35 - Peace is good for business.
Not the same businesses, of course.
Time to sell the 'peace' businesses and by the 'war' businesses.
Brazil also took/is taking a hit today too.
U.S. Markets all dipped steeply at the same time this morning, and then, no doubt, the plunge protection team moved into action, to prop up the markets.
The US response? https://news.yahoo.com/ukraine-us-rejects-dirty-bomb-032000712.html
Instead, what does the US plan to do? https://www.thegatewaypundit.com/2022/10/threats-dirty-bomb-ukraine-reminiscent-obamas-red-line-syria/
The 101st in Romania and the build up of NATO troops in Poland are just waiting for the go signal.... The bomb!
A dirty nuke would contaminate (deny) Russia any further westward expansion and give a pretext for NATO to "intervene" in support of Ukraine.
The US is "rejecting" Russia's claimed BECAUSE THEY KNOW ALL ABOUT IT and are probably working to make it happen.
Folks, we may be running out of time. The primaries are when now?.....!
The inevitability of the confrontation over Vucic stems from the complete reluctance of the parties to make concessions.
A. Vucits: "We are approaching the perfect storm" During a meeting of the Central Committee of the ruling Serbian Progressive Party, President Aleksandar Vucic stressed that the deployment of the US Army in Romania "brings a sharp deterioration of the situation, which is close to the perfect storm." A.Vucits emphasized that America sent the best military unit in the world to the border with Ukraine for a reason. In his opinion, the United States is preparing for an escalation of the conflict.
“We're approaching what I called the 'perfect storm' at the last meeting. It is enough to look at the forces with which Russia is now entering Ukraine. When you see that the Americans sent their absolutely best unit in the world, and that is the 101st Airborne Division, they moved it to Romania a few kilometers from the border with Ukraine, then it becomes clear what awaits us, whether they will come into direct conflict or not ", explained the President of Serbia.
"We Are Heading For A Global Military Conflict The World Has Never Seen Before" – American officer: If the Russians enter Western Ukraine, the Ukrainian Army is finished! At the same time, a retired American officer considers possible an entry of Russian and Belarusian forces into Western Ukraine and the Lviv region. He emphasizes that if Russia succeeds in cutting off the logistical support of the Ukrainian Army from the west, the fighting ability of the Armed Forces of Ukraine will drop to a minimum!
This fear justifies the first scenario published yesterday by WarNews247, the 101st Airborne Division moving along the Ukrainian-Polish border to prevent this possibility. Retired US Army Lt. Col. Daniel Davis, who once headed one of the US logistics services, pointed out: "The vulnerability of the Ukrainian military becomes apparent mainly because the logistical routes have long been known. The main flow of military goods to Ukraine passes through Poland and enters the Lviv and Volyn regions.
By Vassilis Kapoulas
In an emergency briefing, the Russian Ministry of Defense announced that it has placed the Radiological, Chemical and Biological Protection (RCBZ) forces on red alert as either the explosion of a "dirty nuclear bomb" or the firing of a tactical nuclear weapon in Ukraine is imminent.
From the information released by the Russian Ministry of Defense, and unfortunately confirmed 100% by WarNews247, it appears that Moscow believes that Ukraine will detonate a tactical nuclear weapon as it states that radioactive substances will cover Poland and also spread into the atmosphere at a distance of and 1,500 kilometers.
So we are talking about something enhanced.
The question now is whether Article 5 of NATO will be activated if Poland is infected...
Additionally, according to the Russian Ministry of Defense:
Kakhovska Dam and Dnipro Dam will be blown up
A dirty nuclear bomb or tactical nuclear weapon will be detonated in Kherson
Six units of the Zaporizhzhya nuclear plant will be blown up
The Russians described the ultimate Apocalypse scenario.
Mental illness in the aspect of power. Today the more insane a man is, the more powerful he can become.
So what does all of this mean? Has Xi decided to follow
the US democratic parties model of ruling protocols?
We all have worries about people that will show
up at our doorstep when SHTF.
What does reality look like?
This book is an absolute must have IMHO.
"Hang Seng biggest drop since Lehman"