January 22, 2008

Shanghai Composite Around 4,600 As Predicted

Viewers of my Sinomania! broadcasts will remember that back in May 2007 my prediction that the Shanghai Composite would be around 4,600 at the start of 2008. Even with the big profit bubble of last summer here we are - the Shanghai Composite Index fell over 7% in last trading and closed January 22 at 4,559.75. Now, where to go from here?

"Corrections" of this magnitude are consistent with two of my forecasts for Chinese stocks this year: the hot scenario and the flat. Either way, the roller coaster ride is just beginning!

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