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2018-06-27 China-Japan-Koreas
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China's Trade War Pain
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My brother in the Philippines sent me snippets from the article. I'm not sure how he got behind the WSJ pay wall. I don't think he can afford a subscription.
[WSJ] SHANGHAI‐China’s main stock benchmark has entered a bear market, the latest gloomy sign for the country alongside escalating trade tensions with the U.S., a tumbling currency and recent data that suggest its growth is softening.
The Shanghai bourse is dominated by China's largest state-owned companies, such as banks, energy companies and airlines. Among its biggest losers this year are steelmakers such as Maanshan Iron & Steel, down 10.7%, and brokerages such as Huatai Securities, down 16.1%.
Declines in the $4.9 trillion Shanghai market quickened a week ago, when the index plunged 3.8%, its worst day since Feb. 9 when Chinese stocks were caught up in a world-wide selloff.
A year-to-date fall of around 14% makes the Shanghai Composite one of the world's worst-performing large stock indexes. By comparison, the S&P 500 is up slightly for the year, while both the MSCI All-Country Asia Pacific and Stoxx Europe 600 indexes are down about 3%.
Chinese stocks have been hit harder by escalating trade tensions than U.S. markets during the past week, as investors have become more nervous that mutual threats of tariffs on hundreds of billions of dollars worth of goods are more than just a negotiating tactic from both governments.
Seems like the Chinese are presently selling a lot more to the U.S. than vice-versa. Wouldn't that make their pain greater than ours? Potentially.
Analysts say the yuan's recent slide against the U.S. dollar has dampened overseas investors' interest in China's markets in recent weeks. The Chinese currency is down 0.6% against the greenback in 2018.
Look for the MSM to pick this up as soon as there is a (D) elected, who they can credit for this good news. 
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Posted by Bobby 2018-06-27 00:00||
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File under: Commies
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Posted by gorb 2018-06-27 18:30||
2018-06-27 18:30||
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