Chinese Market Breaks Down

by: Bespoke Investment Group

Like the US and the rest of the world, China's equity market has performed horribly over the last month and a half. Today, the Chinese stock market really took a hit when the widely followed Shanghai Composite broke below key support to trade at a fresh 2011 low. The six-month price chart of the Shanghai Composite shown below looks pretty awful right about now.

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(Click chart to expand)