Looking at the Shanghai Composite it is almost down 50% from its all time high if it cant hold at that line in the sand it could really get ugly. I am surprized a none of the permabears on here that talk non stop about shorting the shit out of the market havent had a look at this one. Sort of puts the sell off in the Dow in perspective. Another one they may want to look at is India plenty of good shorting potential in that baby as well.
Agreed but to hear all the wanksperts talking just a month or two back about how China had decoupled made me laugh. Also the World Bank downgraded China growth to single figures today as well.
Rogers always said if prices come down significantly in China he'd buy more because 'its not a bubble'. Looks like he can buy more of China and his beloved Ag futures soon. Other emerging markets that pulled back a lot are Vietnam and Cyprus. Down 40-50% from their 2007 peaks.
Is there any realtime Shangai Composite index freely available ? The one I found @ yahoo is delayed about half an hour..
Strangely enough The Shanghai index seemed to take off around the same time as the US housing market went parabolic with the introduction of new loan types. Nobody in China thinks there is such a thing as decoupling. This view seems to be confined to Asia based strategists at US Investment banks........................... Scary part is that Chinese companies could book gains on their [none vailable for sale] stock portfolios as profits, just like in Japan in the 1980's, and we know what happened there, don't we children.