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Shanghai carves out a new 2013 low, sliding 0.6% overnight with property...

Shanghai carves out a new 2013 low, sliding 0.6% overnight with property developers leading the way as Beijing increases to 70% the minimum downpayment for 2nd homes. Airlines slumped and one pharmaceutical company soared in response to the bird flu outbreak. FXI -0.7% premarket, now -11.9% YTD. 
Comments (3)
  • Rinascimento
    , contributor
    Comments (1056) | Send Message
     
    Look at this!! China is leading again...it is ahead of the curve on the way down; when are our managed markets going to follow?
    8 Apr 2013, 10:35 AM Reply Like
  • Huskies4
    , contributor
    Comments (20) | Send Message
     
    At a p/e of 10 I don't think China will be leading the push lower for long. Historically China's p/e is 20+, add to that 8% growth and you have the conditions for an explosive move up over the next 3 years. Blackrock says overweight China, Honk Kong, Russia and Brazil. No one has a crystal ball, but over the past years Blackrock has come the closest to having a crystal ball.
    12 Apr 2013, 10:34 AM Reply Like
  • Rinascimento
    , contributor
    Comments (1056) | Send Message
     
    Thank you for the data; that's exactly what I mean that China is ahead of the curve with a p/e of 10; all hell is going to break lose if our markets fall to an average p/e of 10 from current highs, which I am not aware of but I assume in the p/e 18-20 range
    12 Apr 2013, 10:45 AM Reply Like
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