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Epic Fat Finger Trade In China Causes The Shanghai Stock Market To Spike 6% In Two Minutes

Sam RoAug 16, 2013, 15:38 IST

Flickr / The Brit_2Investor sentiment in China is already poor, thanks to volatility in the country's domestic stock market.

And Friday's trading action did not help.

Here's Bloomberg with the recap:

China’s stock market was roiled by a 53 percent surge in trading volumes that sent the Shanghai Composite Index to its biggest intraday gain since March 2009. Everbright Securities Co. said it experienced a trading error.

The benchmark Shanghai gauge jumped from a loss of as much as 1 percent to a gain of 5.6 percent in two minutes during the morning session as 16 of the measure’s 20 biggest companies by weighting increased by the 10 percent daily limit. The index fell 0.6 percent at the close. The exchange said trades will be settled as normal and Everbright said it’s investigating.

Some experts attribute some of China's inflated home prices to investors who fear the stock market.

Here's the intraday chart via Bloomberg:

Bloomberg