This is exactly what I was worried about. After a strong start this morning on the back or yesterday’s furious rally the Shanghai and Shenzhen stock markets suddenly turned negative and ended the day lower, with the SCI dropping by 0.71%. It is widely known among financial market experts that governments can have powerful impacts on the market by signaling their intentions, but the more often they do it by pure signaling (i.e. with measures that have no fundamental impact) the less credible their signaling becomes over time. In other words the more you intervene to control the market the more empty your intervention becomes – this is a weapon whose greatest power lies in the rarity with which it is used.