China: Shanghai Composite Index drops by 2.91% (83.88) at the closing

Yahoo! Finance ^ | 03/01/07

[TigerLikesRooster]

SSE Composite Index (Shanghai:000001.SS) Delayed quote data

Index Value:	2,797.19
Trade Time:	2:00AM ET
Change:	83.88 (2.91%)
Prev Close:	2,881.073
Open:	2,877.203
Day's Range:	2760.91 - 2878.35
52wk Range:	1,238.16 - 3,049.77

New! Try our new Charts in Beta1d  5d  3m  6m  1y  2y  5y  max 

[TigerLikesRooster]

Ping!

[teletech]

Here we go AGAIN!

[FLOutdoorsman]

Asia is down in general.

Taiwan and Seoul, along with China, hit the hardest.

http://finance.yahoo.com/intlindices?e=asia

[conservative in nyc]

The sky is not falling. If you invested 1,000 renminbi in that market this time last year, your stocks would be worth 2,153 renminbi after today's close. The Shanghai market is probably overvalued.

And a 2.5% or greater one-day drop (or gain) isn't unusual in an emerging market. The Shanghai market was up or down by over 2.5% in a day about 13% of the time over the past year. Emerging markets tend to be volatile.

[TigerLikesRooster]

Re #5

It is not so much what Chinese will do as how the rest of the world reacts to it. Pumping China Myth for all these years must have an effect on people's perception.

[conservative in nyc]

Well, so far, it's having little effect on the European markets, which are slightly higher at the open.

[CitizenUSA]

conservative in nyc wrote: "And a 2.5% or greater one-day drop (or gain) isn't unusual in an emerging market. The Shanghai market was up or down by over 2.5% in a day about 13% of the time over the past year. Emerging markets tend to be volatile."

Well said. It's much ado about nothing. Personally, I'm down a bit from my investment highs but much better off than I was a year ago. 2.5% doesn't erase 30-50% gains.

[Pro-Bush]

This is series.

[FLOutdoorsman]

Serious?

[jdm]

It's actually series and hugh -- you didn't get that memo?

[Pro-Bush]

No, series!!

[nopardons]

But only if a moose bit your sister.

[SLB]

Buy low and sell high. Now is the time to be doing some serious buying. I am within a couple of years of retirement, I hope, but still am doing some buying in growth funds. If you are a little more conservative put the bucks in a bond fund, but no matter what buy, buy and buy while the market is down.

[prisoner6]

I like cheese.

prisoner6

[redgolum]

Hmm. So that is about half the gains from the day before.