Tag Archives | Shanghai stock market

Index Sept09.jpg

Green shoots begin to disappear

September’s IeC Boom/Gloom Index© is slightly higher than August. But the ‘Green Shoots’ level (green line) has fallen sharply, indicating that sentiment has become less positive about the staying power of the recent rallies in financial markets. The index now includes a new reading for “frugal” (red line), as this may be worth watching in […]

Continue Reading

China faces ‘economic restructuring’

A year ago, it was fashionable to claim that the Asian economies had ‘decoupled’ from the West. Any slowdown would simply pass them by. Last December, I noted a rare dissenting voice, Stephen Roach of Morgan Stanley, who commented that ‘decoupling is a good story, but its not going to work going forward’. In March, […]

Continue Reading

Shanghai stock market crashes

China is well worth watching at the moment. Quietly, away from the headlines, the Shanghai stock exchange has been collapsing. It is now down 44% since its October peak, and fell over 5% on Wednesday. This matters to the chemical industry for two reasons: • The immediate cause of Wednesday’s fall was news that Sinopec […]

Continue Reading

Buffett sells PetroChina

I mentioned PetroChina in the very first blog entry, when the stock was trading at $155 in New York. It seemed to me to typify the new mood of confidence that I was finding as I travelled in Asia on the 10th anniversary of the Asian financial crisis. Little did I think that just 3 […]

Continue Reading