China Stocks & Volatility
According to this China daily article, about half of stocks on the Shanghai exchange are down 30% in the last month, although the index itself is up 85% this year alone:
Almost half of the yuan-denominated A-shares in the Shanghai and Shenzhen stock exchanges fell more than 30 percent in the past month, a news report said Thursday. Forty-five percent of the total, or 653 stocks dropped more than 30 percent; 901 stocks, or 62 percent, were down more than 20 percent; and 53 declined more than 50 percent.
Dow Jones Shanghai Index – 85% up
It’s interesting, because there are some stocks, like Shandong Gold Mining Co., Ltd, which are up 153% for the year. It’s incredible:
Shandong Gold Mining Co – 153% up
These incredible gains are balanced by companies like Actions Semiconductor Company, which is down 29% this year:
Actions Semiconductor Co. – down 29%
I don’t understand the China markets, or any markets for that matter, but the amount of enthusiasm and turmoil is fascinating to watch. China is this decade’s big market boom. It will also herald the next largest, global crash we’ve ever seen. Expect China to be the herald of global change!
Internet Dating Gone Wrong
Technology doesn’t always facilitate a good relationship. The French Press reports:
A 17-year-old boy in northeastern China was so disappointed with the looks of a woman he met over the Internet that he hanged himself after seeing her face-to-face, state media reported Friday. The girl described herself as a beautiful 19-year-old and the pair chatted on the Web for weeks before arranging a December 26 rendezvous in the nearby city of Mudanjiang, in far northeastern Heilongjiang province. The boy arrived to discover the woman far less attractive than advertised and 10 years older than him, Xinhua said. The boy immediately returned home, lost his appetite, and four days later hanged himself from a tree.
With a name like Qunjiaofeiyang (Flying Skirt), he should have known better.
China’s Getting It On[line]
It looks like China’s making excellent progress towards an internet-ready society! The good thing about this is that it may bring some modernity to Chinese thought. It should also continue to lubricate the clash between Chinese and Western culture.
