Just a reminder of how much of a speculative casino China can be
Overnight the Shanghai stock market, as measured by the Shanghai Composite Index, fell 4.4%. (Which took down other Asian markets. Hong Kong's Hang Seng Index was down 2.33%.) That's a substantial drop, no? Causes? First, a huge drop in China's exports. Exports fell...After huge bounce on earnings, when is it time to sell China’s CTRP.com?
Way, way back on March 1 I wondered when it would be time to trim some China positions. The Shanghai market as a whole was up more than 14% in the last month. Sure, a potential U.S.-China trade deal offered the chance of a rally on the news, but Wall Street was...China rally or speculative balloon?
As of today, February 27, the Shanghai Composite is up 13.53% in the last month. The beginning of a sustained turnaround or another speculative balloon ready to pop? It's too early to tell, unfortunately. The factors that could be inflating a speculative balloon are...Words, yuan from Beijing push two-day rally to 7%
Friday's disappointing GDP report did goad China's government to action to support the stock market and the economy, as I wrote that it would in my Friday post. Words from Chinese President Xi Jinping helped continue the surge in Chinese stock prices off a 4-year low....Is Beijing moving to support stocks in Shanghai?
Sure looks like the financial powers in China’s government have one again decided to defend the 3,000 level on the Shanghai Composite Index. The index is down 13% since January 24 and came within 1.4% of the 3,000 level on Wednesday before rallying. That has set off speculation that state-run funds had stepped in to support stock prices at that level.