Monday, August 31, 2009

Shanghai Index Smashed

It's in "official" Bear Market territory.

The Shanghai Composite Index dropped 6.7 percent, the most since June 2008.

It has declined 23 percent to 2,667.75 since Aug. 4, more than the 20 percent drop that is the common definition of a bear market.

China’s index is the worst performer this month among 89 benchmark indexes tracked by Bloomberg globally.

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