Mainland China stock exchange is not reflective of their economy. The Chinese regard the stock exchange as a) a status symbol b) a gambling hall and c) a place to get more than the government deposit rate which I think is around 3.5%!!!
Feb 27 their market dipped...they have increased by 42% since that date. Chinese government wants to let some steam out of the market...20-30%...already had about 10% out so a little more to go.
US reaction to last weeks China fall was absolutely correct....it has no impact on demand for commodities, their 10%+ economic growth, massive increase in USD reserves etc.
Cheers
Mark
china crash started, page-10
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Last
7,971.6 |
Change
-64.900(0.81%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,036.5 | 8,036.5 | 7,923.6 |
| XJO (ASX) Chart |