China does not materially intervene in their equity markets IMO, like the NY FED. Stocks are an afterthought. But, what is Chinese leadership thinking about when it comes to Alibaba and is there a stimilus coming?
China is pegged to the $ and their currency is super strong against their rival Japan. There might be something coming here, have a look at US Steel and the Shanghai Composite.
Strangely, gold follows China to some degree.
Two instance where paths notably diverged resolved nicely.