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Stock markets don't soar 4.3% on the back of middling flash PMI reports. Shanghai's moonshot...

Stock markets don't soar 4.3% on the back of middling flash PMI reports. Shanghai's moonshot overnight is likely more to do with institutional investors and state-owned firms (mostly one and the same in China) jumping all at once into a market trading at 2009 levels. With HSBC pushed aside, Ping An insurance gained 8% amid speculation it's boosting its position in equities. Financial shares (CHIX) overall gained 6.7%. FXI +1.8% premarket.
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Comments (1)
  • Interesting Times
    , contributor
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    To me Shanghai's market is just like a casino...Place your bets..all hands off the table!!! Or did in mean the US markets??
    14 Dec 2012, 07:56 AM Reply Like
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