According to Dow Jones, HOMS brought in about 440 billion yuan (US$70.9 billion) of the 500 billion yuan (US$80.5 billion) grey market funds funneled into the stock market.The hunt for the great white short continues.
However, Hundsun has denied that HOMS is responsible for the stock market crash, noting in a filing with the Shanghai Stock Exchange on Monday that only 30.1 billion yuan (US$4.85 billion) was force-sold through HOMS between June 15 and July 10, representing only 0.1% of total transactions during that period.
"It's not objective or rational to say that HOMS was the major force of the stock market turmoil," Hundsun said in the statement.
Personal Spending Jumps More than Income in March
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Disposable (after tax) income rose 0.5 percent in March. Real (inflation
adjusted) income rose 0.2 percent. The rise in spending outpaced the rise
in income.
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