The Shanghai Composite fell 0.6% in its first action following a week-long holiday in China,...


The Shanghai Composite fell 0.6% in its first action following a week-long holiday in China, bringing its YTD loss to about 13%. Nearing two years, the bear market has seen Shanghai shed 34% of its value. The Composite now trades at 11.3X earnings, its cheapest valuation since 1997, and well below that of fellow BRIC member Brazil at 18.8.
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