Hi Virgil, its certainly an interesting point - I was making just that observation on the BLY forum today. I suspect club-sharer is correct in that it probably relates to our index being overweight resources (plus financials?) compared to the US.
I note also that in comparison to European markets, DAX is down 9.7% from peak 3 weeks ago and FTSE down 5.8%.
If it is resources that are the main drag, then it depends on your view of the outlook for the recovery, globally but particularly in China and our main resources markets, as to what the correction represents. If you have a bullish view of the resources demand outlook, then the correction represents an excellent opportunity to buy up stocks that have probably now been oversold.
Cheers, Sharks.
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