Resource stocks got sold down today because Chinese data missed expectations to the down side. Today's data MAY have implications for global economic growth, commodity prices and investors appetite for resource stocks moving forward.
Also, the resource indexes were dragged down by gold stocks that got sold down because of the large falls in the price of gold on Friday night and today. Gold stocks are a significant part of the ASX resource sector.
Personally, I believe that if it looks like things are cooling off too much in China, the Chinese authorities will stimulate the economy, just like they have done before. There are no inflation issues in China yet so they are free to give the economy a shove.
If sentiment for large cap. resource stocks is bad (as per my post), then sentiment for small cap stocks should be worse. We are a small cap resource stock.
I'll post numbers and a chart of the XSR (our index) later tonight as it's an "end of day" index and the data isn't available yet.
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