Saturday 19 May 2012

China stock market


-- 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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