China’s main stock market is under pressure this morning; We should expect some spillover across Asian Markets, Europe and the US.
The WSJ observed:
"Shanghai’s benchmark stock index plunged nearly 9% on
Tuesday, its biggest drop in more than 10 years, as investors unloaded
shares to lock in profits after recent gains. Asian-Pacific markets
ended mostly lower.
The Shanghai Composite Index tumbled 8.8% to close at
2771.79, its biggest single-day decline since it fell 9.4% on Feb. 18,
1997, just after the death of Communist Party elder Deng Xiaoping. The
Shanghai index had gained 1.4% on Monday to 3040.60, extending a spate
of record high closes."
Here are the closing prices throughout most of Asia and the Pacific Rim:
|Sources: Dow Jones, Reuters|
China’s Market Slides Nearly 9%;
Regional Indexes End Mostly Lower
WSJ, February 27, 2007 5:52 a.m.