Forced sellers funding margin calls in China caused a 1,000 point market plunge in Hong Kong that triggered a 30% intraday spike in volatility but dealers say there was "no panic" in hedging their derivatives books.
Hong Kong stocks had a turbulent day on July 6 with the benchmark Hang Seng Index plunging by 1,200 points, or 4.5%, only to recover to close about 900 points down. The Hang Seng China Enterprises Index (HSCEI) was down by 3%.
The moves were widely attributed to news of Greece voting
The week on Risk.net, July 7-13, 2018Receive this by email