Online:
Visits:
Stories:
Profile image
By silveristhenew (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

One H#ll of a Round Trip: Chinese Stocks Crash 8.45%, Give Up 60% Gains This Year

Monday, August 24, 2015 10:10
% of readers think this story is Fact. Add your two cents.

(Before It's News)

B4INREMOTE-aHR0cDovLzIuYnAuYmxvZ3Nwb3QuY29tLy1lZ0gwUWtUeFJZWS9WTzVUckpURkdaSS9BQUFBQUFBQWNsay9INUlHZzVBb0dIUS9zMTYwMC9NaXNoJTJCTmV3JTJCMTE4LnBuZw==globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / Monday, August 24, 2015 12:25 AM

Chinese stock plunged another 296.55 points today (8.45%) to 3211.20. The market was once up over 60% on the year in June, but is now negative.

I added that last red bar because Stockcharts reflects last Friday.

One Hell of a Round Trip

From 3264 to 5178 to 3211 is one hell of a round trip, especially for a stock market index.

Bloomberg notes State Support Fails to Stop Rout.

  • More than 750 stocks fell by the daily 10 percent limit on the Shanghai Composite.
  • Economic growth slowed to 6.6 percent in July, according to Bloomberg’s monthly GDP tracker.
  • Stocks on mainland bourses traded at a median 61 times reported earnings on Friday, according to data compiled by Bloomberg. That’s the most among the 10 largest markets and more than three times the 19 multiple for the Standard & Poor’s 500 Index.

READ MORE

The post One H#ll of a Round Trip: Chinese Stocks Crash 8.45%, Give Up 60% Gains This Year appeared first on Silver For The People.



Source: http://silveristhenew.com/2015/08/24/one-hll-of-a-round-trip-chinese-stocks-crash-8-45-give-up-60-gains-this-year/

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.