The Shanghai Composite Index has climbed above 2,400 points. It ended the week at 2,419.78, down slightly from a seven-month high reached on Thursday. As the rallies continue, our smug self-satisfaction has increasingly turned into a smug certainty – born of a mix of jealousy and desperation – that it’s not to last. The Wall […]
Category: Markets
Yes, we had another rally this week, and the Shanghai Composite Index has closed up 4.09% since last Friday. That’s despite what most lay observers would consider to be some pretty bad earnings reports from major companies. Overall, state-owned industries saw profits drop 43.7% in the first two months of the year. But for truly […]
It’s been a busy week, and we haven’t paid as close attention to the markets as we would have liked. Of course, that has given the Shanghai Composite Index the chance to taunt our cash-only position by rising more than 7% this week while our backs were turned. In the upcoming issue of China Economic […]
Our first week as an all-cash fund – really, where we should have been all along – has gone swimmingly. The same is not true for the market, which has been gradually drowning in a gooey mess of broken dreams. Any hopes that the National People’s Congress would have brought with it a magic cure […]
We’ve never had much of a soft spot for Industrial and Commercial Bank of China (ICBC, 601398.SH). Back in January, we even went so far as to call it a “hussy,” which may not have been an accurate description of China’s largest lender, but certainly felt good to write. Our dislike of ICBC comes not […]
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