China expert Gene Linn talks about what the Chinese markets have been doing since the holiday.
“Hong Kong was pleasantly sleep-walking through a holiday-shortened week in narrow trading without direction. Then the U.S. Federal Reserve increased its discount interest rate, and President Barack Obama met with Chinese nemesis the Dalai Lama. Suddenly the market woke up and found a direction – down.
Not only did the rude awakening drive blue chips below the key psychological 20,000 level, it set the stage for nervous trading next week.
Hong Kong drifted in a narrow range earlier in the week, partly because there were no signals from Mainland markets, which were closed the whole week for the Lunar New Year holiday. But the blue-chip Hang Seng Index sank 2.6% Friday, finishing the week 1.8%, 375 points, lower at 19,894. The index of Chinese companies ended the week down 2.4%, 272 points, at 11,264…”
To continue reading this post and to read other entries, click here.
About Gene Linn:
After studying Chinese language in the Army, Gene Linn earned Bachelor’s Degree in journalism and a Master’s in East Asian Studies, focusing on Chinese language and politics. He worked for 14 years as a freelance business reporter in Hong Kong. One of his jobs was to write daily Hong Kong stock market reports for UPI for four years. He started writing a column on China-related stocks for EQUITIES Magazine in 2004. He also writes a blog on China-related stocks designed to help the average investor understand this exciting but confounding market
About EQUITIES:
Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.
Sign up for a free one-year subscription to EQUITIES Magazine
