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dleb

3,862 Posts.

32

05/02/24

15:53

Post #: 72245161
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Originally posted by 1ronnie ↑

China's Shanghai index SSE has plummeted further after a sizeable -6.5% fall last week. It is now at or close to 5 year lows.

Despite many efforts by the Chinese Govt to shore up confidence, confidence is unable to be restored, as reports suggest more funds outflow from China into stocks overseas.

Well, Trump's threat of a 6.5% tariff on Chinese goods does not do any good to help improve confidence. Chinese companies depended on domestic economy is 'struggling' under increasing deflationary environment while those dependent on export growth are threatened by political factors. So we should expect subpar conditions to remain for some time yet.

All not auguring well for commodities/resource in general, which is why I had opined weeks ago to steer clear of the resource sector. The local market spoke today as did our Aussie.

5 year view
000001 Index Charts and Quotes — TradingView

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Sluggish not very convincing if it doesn't hold that level, it's all-over red rover.
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0 Great analysis

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