

China stocks jump 6% in mystery spike - rossjudson
http://money.cnn.com/2013/08/16/investing/shanghai-composite-mystery/

======
rossjudson
I had some stock-watching extended family members flipping out about this one
last night. ;)

It went up, it went down, by a _huge_ amount in a matter of minutes. At first
authorities apparently said it was natural, but now there's an investigation
underway.

Crazy coincidence? Automated trading run amuck? Or hackery?

~~~
washedup
Supposedly it was a "fat-finger" by a Chinese state-owned equity firm
(Everbright securities). In other words, an arbitrage algo gone wrong. Cost
the firm $1 billion and they are now suspended from trading for who knows how
long.

