On Monday the Shanghai Composite Index closed at 3,296, a mere 25 points above the 52-week low. It seems likely that the Index will break 3,271 very soon, possibly tonight. Coming a matter of weeks ahead of the Beijing Olympics, this cannot be considered a good omen for the Chinese people or their economy.
We advise extreme caution with Chinese stocks and reiterate our short recommendations on FXI, JRJC and BIDU.
1 comment:
Doesn't seem like anyone we hear on TV cares, but maybe you're right. We will soon find out.
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