Sizable breakout spotted in the shanghai index as it break above 4yr falling channel and on volume spike! Is rotation about to jump out of US equities and jump into Hang Seng and Shanghai? Is this what mr market is signalling? If the breakout count is right both shanghai and hang seng indices should post at least 40% gains by end 2015.

Will be staying long chinaland equities while reducing US equity exposure going forward. For those that can't play them directly the alternative is the FXI ETF

(Reuters) - China's stock trading fever has made the Shanghai Stock Exchange the world's biggest in terms of turnover, surpassing the New York Stock Exchange, but the explosion in volumes has exceeded the ability of the exchange's software to report it.

The exchange's trading turnover exceeded 1 trillion yuan ($161.28 billion) for the first time on Monday, but the data could not be properly displayed because its software was not designed to report numbers that high.

"This is a software configuration issue, not a technical glitch," the Shanghai Stock Exchange said in a statement, adding that trading and price quotes for individual stocks were not affected.

The decline of Hanergy Thin Film Solar Group Ltd. was as spectacular and inexplicable as its ascent.

Just 24 minutes of Hong Kong trading erased $18.6 billion of market value and wiped out almost four months of gains that made it more valuable than Sony Corp. of Japan. Those increases came as analysts and investors questioned why, exactly, this stock was increasing in the first place. Sound familiar?

The maker of solar equipment controlled by Li Hejun suspended trading after the stock plummeted 47 percent in the morning. Discussion of what triggered the move emerged after trading halted.

Hong Kong’s Securities and Futures Commission has been probing market manipulation in Hanergy’s shares for several weeks, Reuters reported late Wednesday citing an unidentified person. Ernest Kong, a spokesman for Hong Kong’s Securities and Futures Commission, declined to comment to Bloomberg.

Chairman Li, who is also the biggest shareholder, didn’t attend an annual meeting in Hong Kong on Wednesday, T.L. Chow, the company’s external spokesman, said by phone.
“All directors of listed companies take part in setting the dates of their shareholder meetings, and they should attend,” said David Webb, shareholder activist and founder of Webb-site.com. “If a chairman of a mainland company did not show up in Hong Kong for the AGM, then it raises questions.”

The stock fell to HK$3.91 before the suspension at 10:40 a.m., shaving HK$144.3 billion ($18.6 billion) off its market value.

Peak Value

Before today’s decline, the stock had surged more than sixfold in the past year despite questions from analysts and investors about the company’s revenue sources. About 61 percent of Hanergy Thin Film’s sales come from Beijing-based parent Hanergy Holding Group, the listed company said in March.

The company’s first statement Wednesday didn’t give a reason for the suspension. A subsequent statement from Hanergy Thin Film said the stock has been suspended pending “an announcement containing inside information.”
Hanergy uses a niche technology in the photovoltaic industry, where more than three-quarters of all panels are based on solar-grade silicon. Thin film cells are more flexible but less efficient than crystalline silicon-based panels.

Prior to Wednesday’s plunge, Hanergy Thin Film’s market value had at one point risen to more than HK$300 billion. That’s larger than Sony and almost seven times the size of First Solar Inc., the biggest U.S. solar company.

Nigeria Increases Foreign-Currency Curbs to Protect Reserves



This Naira is facing a serious hurricane!

ATMs run out of cash

The Greek parliament has backed plans for a referendum on international creditors' terms for a new bailout.
The 5 July referendum was called by PM Alexis Tsipras, who opposes further budget cuts. He urged voters to deliver a "resounding 'no'" to the package.

Eurozone partners have criticised Greece's referendum announcement, and rejected its request to extend the bailout programme beyond 30 June.
Greece could default on a €1.6bn (£1.1bn) IMF repayment due on that day.

http://www.bbc.com/news/world-europe-33302526