Saturday, October 4, 2008

Chinese stocks already bottomed.

Last week another record drop with broad stock markets indexes in US. Dow Jones fell 7.3% that is the biggest weekly drop since 2002. S&P 500 down 9.4% and Nasdaq Comp. down 11%. But last week had some winner. Money went back to the beaten Shanghai Composite index which closed 10% higher.

At the beginning of the September I posted article about extensive interest in Chinese stocks. SSE Index bottomed in mid of September at level of 1800 points and Friday's close price 2293 points sent the index up by 27%. For the same period Dow Jones Industrial Average is down 3%.

It seems like the bottom for Chinese stock markets has been found.


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