Posted on 08/31/2009 1:44:36 AM PDT by BlackVeil
SHANGHAI, Aug 31 (Reuters) - China's main stock index fell more than 5 percent on Monday to a three-month low, breaking below the key 125-day moving average used by Chinese investors to delineate a bull versus a bear market, as a series of negative factors has relentlessly weighed down the market since early August.
"Liquidity worries, too much share supply and weakening investor sentiment prevailed in the market today, although these are not fresh negative factors," said Qian Qimin, deputy head of research at Shenyin & Wanguo Securities in Shanghai.
The Shanghai Composite Index .SSEC plunged as much as 5.4 percent to 2,706.129 points, putting it on track to post a more than 20 percent loss for the month after recording seven consecutive monthly gains.
The index is well below the 125-day moving average ...
(Excerpt) Read more at reuters.com ...
yitbos
Well thankfully our markets are bought and paid for, continuing their disconnect with actual financial data. Altho, they may not like this. No jobs, banks failing, more debt, commercial RE problems, DOW UP! Because, you know its not as bad as we expected- incompetence.
Maybe we should export some of our “green shoots”(?)
This should be good for about 200 points up on the DOW and about 70 up on the Nasdaq today.
Wager 100 points down on the Dow.
Headline: “December gold falls as China rout lifts dollar.” However, my gold mining shares are up today. Excuse me while I go figure.
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