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China stocks jump 6% in mystery spike
- rossjudson 13y agoI had some stock-watching extended family members flipping out about this one last night. ;) It went up, it went down, by a huge amount in a matter of minutes. At first authorities apparently said it was natural, but now there's an investigation underway. Crazy coincidence? Automated trading run amuck? Or hackery?
- washedup 13y agoSupposedly it was a "fat-finger" by a Chinese state-owned equity firm (Everbright securities). In other words, an arbitrage algo gone wrong. Cost the firm $1 billion and they are now suspended from trading for who knows how long.