Posted on 05/20/2010 11:28:31 PM PDT by blam
Asia Blowing Off The U.S. Collapse
Vincent Fernando, CFA
May 21, 2010, 1:06 AM
Despite yesterday's mayhem in the U.S. and Europe, and Japan's over 2% drop right now, mainland China and Asia are doing okay. Shanghai's CSI 300 is slightly in the green, while MSCI Asia is down just half a percent. Hong Kong is closed. Australia is down just 0.6%.
Not pretty, but not bad either, for a day after the S&P 500 and Nasdaq shed 4% in a session. It's as if China is in a drivers' seat here.
[snip]
(Excerpt) Read more at businessinsider.com ...
Aiko Hayashi
May 21, 2010
TOKYO, May 21 (Reuters) - Japan's Nikkei average posted its biggest weekly drop in more than a year on Friday, as investors sought to reduce their holdings of riskier assets including equities on deepening worries about disunity among euro zone leaders on how to address the region's debt crisis.
On the week, the Nikkei fell 6.5 percent, its biggest weekly drop since January 2009.
On Friday, the benchmark Nikkei .N225 ended the day down 2.5 percent at 9,784.54, its lowest close in more than five months.
The broader Topix fell 2.1 percent to 879.69.
ppl fall into the trap of believing any movement in the sharemarket represent the real economy. Just because the market is up 1k one day doesnt mean suddenly the economy is healthy. A fundamentally sound economy do not jirade from one extreme to another
Communist China is going to get hit sooner or later. It cannot continue to hope that a weak US economy can continue to buy its products....or the US subsidize buying ChiCom products by borrowing from the ChiComs.....one day the US will not be able to pay back
Liberal Free Trade Globalism is dead....and Communist China day of reckoning is coming soon.
FTSE Falls Below 5000
http://online.wsj.com/article/BT-CO-20100521-705897.html?mod=WSJ_latestheadlines
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