--
In case you haven't noticed, people are fleeing the markets from all
corners of the globe. This is the tipping point we have been waiting
for, and all the warnings have been screaming at us all week. As MCR
says, "Even a caveman can see this." Time to wake up
because things ain't looking bueno. -- JB, Managing Editor
China
Stocks In Trouble As Hang Seng Breaks Support Again
17
May, 2012
Bearish
sentiment from investors has taken the Hang Seng Index through its
19,000 support level for the second time in less than 72 hours,
opening nearly 500 points lower Friday in Hong Kong to 18782 points.
Investors seem to be heading for the mattress and safety deposit
boxes, avoiding even the dollar and euro fixed income.
On
Wall Street, Fears Of New Crisis Growing Kenneth Rapoza Kenneth
Rapoza Contributor
There’s
a “flight from the dollar and the euro,” Daisuke Uno, a
strategist at Sumitomo Mitsui Banking Corporation told Dow Jones
Newswires in Hong Kong on Friday.
Mainland
Chinese stock indices opened lower as well, with the benchmark
Shanghai Composite Index down 0.59% to 2,364.90 and the Shenzhen
Component Index opened at 9,995.91, down 0.83%.
MSCI’s
broadest index of Asia-Pacific shares ex-Japan was down 0.6% early
Friday after briefly ending a four-day losing trend on Thursday. The
index slid more than 3% — its biggest one-day drop in six months —
and hit a four-month low on Wednesday. MSCI Asia Pacific is off
around 10% this month alone
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