Seems like despite government effort to stop the slde. Things are looking down.
finance.yahoo.com/[...]

I have often seen these elderly people looking at the stock market screens for hours. It's like watching paint dry. I wonder who is manipulating the stocks markets?

Everyone that can I think. The goal of most listed Chinese companies seems to be to build debt. Cash proceeds from issued stock and IPOs of Company A is used to make investments in other companies, often owned by the management of Company A. These investments are used as collateral for bank loans. The proceeds of loans is also used for more investments. Then there is the opportunity to sell other assets so more investments can be made. Soon, the balance sheet has little cash but a lot of investments and a lot of debt to banks.

Last year this seemed to be played out but the ability of companies to sell bonds was eased so more cash could flow in to be used for more investments.

This Ponzi type debt build up works as long as more sources of cash are found. Recently, China has opened stock trading to foreigners but most smart money guys aren't playing. Inward FDI is also shrinking.

China is becoming Greece on steroids. The gumbment will do the right thing and again bail out the banks thereby socializing the bad loans and giving the bill to the people.

Ponzi systems will die when the gumbment runs out of other peoples money.

Also most Chinese don't have a clue about the stocks. They buy because others are buying."Piss.. Here's a good stock tip for you". They want to get rich quick and are finding out the hard way that stock investments is a game not easily played.

Add to the deep dark pool of the financial 'market' in China is the lack of creditable financial reporting and auditing. China criminalizes financial investigation and labels most accounting information as 'state secret.'

Transparency and sunlight would help investors but most Chinese have not been educated to understand exploitation and loss statements never mind balance sheets. I think the printing press with be turning out a lot red printed notes. That will help the banks but will raise prices in the wet markets.

the trouble actually is a political one rather than an economic one. the state is a one party state, everyone in power is come under one umbrella, check and balance does not exist. if you watch you will find the regulator acts like more a market participant than a referee. hahhahahah so what you expect from that.

Actually, I was thinking the Chinese stock market system is rather new and fresh - it doesn't have all the controls that mature stock markets, such as the NYSE and NASDAQ have - so all the abuses that trading firms in the USA executed successfully, for massive short term profits, would play out well here - until you get caught. Techniques such as program trading - that's a massive technique with quite a few tricks to play, pushing the market up and down through volume trading, etc.

It is unfortunate for those who over committed themselves in recent months. Shit happens.
The larger picture. If you invested your money this time last year, and have just taken the 30% plus hit, you still doubled your money.
The stocks had risen 150% in a year. 30% is just a correction, which is common in new markets, there are a lot of examples of this. With stock price to earnings ratio of 20, that is still not a good investment. There is room for prices to fall.
However, this is a culture where 'there is always someone to blame'. People have borrowed money to invest, which is basically borrowing to gamble. This somewhat stupid greed, but hey! Do I admit I was stupid or blame some outside forces of greed.

consiracy theories abound. look at mh370 reactions

As an investor I would not re-invest in the markets until things settle down. And the more the big hand of gov interferes, the longer it may be for things to find their natural level again.

the laws/regulations in china does not permit naked short selling, so blaming "outside forces" is plain stupid and needing "great imagination." the chinese might as well lay down laws/regulations banning any foreign market participants from selling any stocks that would result in a positive position. if you sell at a loss, that is ok tho. hahahhahahhah