After the shortest trading day in China's 25-year stock trading history, the country's social media exploded with comments about the newly-introduced circuit breaks, with #A-sharescircuitbreaker trending on micro blogging platform Weibo, China's answer to Twitter.
Many investors were stumped:
The Chinese stock markets already had a trading halt mechanism, so isn't the introduction of a circuit breaker superfluous? Chinese shares were already impotent and now we have the circuit breaker! I strongly request for the system to be dropped!
The circuit breaker has cut off liquidity with no counter parties to trade with, best to drop it.
Just half an hour after the market opening, it's the end of the day and traders can go home. The Chinese market just made history, again. Remember the 2015 stock crisis, remember the 2016 circuit breaker. This is what happens when the government tries to intervene the market. Long live the Chinese stock market!
Some saw the positive side:
Does the circuit breaker have anything to do with the slump in A-shares? Although the circuit breaker doesn't serve a major purpose, the shares could have fallen by 9 to 10 percent now if not for it. The sell-off is caused by many situations that (the Chinese government) has not responded to. It's not the circuit breaker that's causing the selloff. So what's everyone complaining about?
Some saw the lighter side of the situation:
A viral message
Many are asking what the circuit breaker is about. A securities professional replied: It's like bringing 5,000 yuan to a card game and losing all of it in half an hour. You call a truce for 15 minutes and withdraw 7,000 yuan from the ATM in that time. After losing all of that money too, the winner says to you: You are just too unlucky, let's call it a day.
We are still having our morning meeting, but securities firm employees already can go home. This shows that men should find jobs as dealers with their high salaries and short working hours; women should marry dealers for not only are their husbands well-paid with lots of vacation time, they would also have time to go to the mall and movies with you!
In the past, I used to have afternoon tea after the market closed. Now, I have tea in the morning.
After the Chinese stock markets introduced circuit breakers, I'm even more determined to work for a securities firm after I graduate. After all, I only have to work half an hour every day!
Pauline Chiou contributed to this report.