Chinese Brokers’ Profits Plunge 98% As Traders Flee Rigged, Burst Bubble Markets

While both sellside analysts and buyside investors are panicking over the collapse in bank stock prices and the evaporation of market liquidity as virtually nobody trades any more, perhaps it is time someone looked further east, specifically in China where in January the results reported by local brokerages have confirmed what we have been warning about, namely the local investors – disgusted with China’s stock “market” which is not only a burst bubble now but also rigged beyond any measure – have pulled their money en masse, and left China’s brokerage to disintergated into a revenueless, profitless mess.
Red Pulse has more:

This post was published at Zero Hedge on 02/15/2016.