F-22Raptor
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For China’s stock investors and forecasters, 2018 has been a gloomy year marked by unwelcoming milestones.
The benchmark Shanghai Composite Index is nearly 25 percent below where it started this year, making it the worst-performing major stock market in the world. The breakout of a trade war between the U.S. and China has wiped out $2.3 trillion this year, while a deleveraging drive has squeezed margin debt to just one-third of its peak in 2015.
While foreign investors continued to pour money into onshore equities via the stock connects and state funds were said to have bought exchange-traded funds to rescue shares, they did little to arrest declines. There was no place to hide with even the safe-havens losing ground, as the weak Chinese economy hurt spending and weighed on consumer stocks, while a vaccine scandal and a gene-editing controversy sparked a sell-off in the health-care sector.
Here are five charts to sum up the year:
Evaporating Value
Stock declines have shaved $2.3 trillion off China’s market value this year as of Wednesday, the biggest on record since Bloomberg started compiling the data in 2002. The closest loss was during the global financial crisis 10 years ago, when the Shanghai gauge plunged 65 percent. China also ceded its place as the world’s second-biggest stock market to Japan earlier this year.
https://www.google.com/url?sa=i&sou...aw37g9ZT5ZvYNdpHZBFm4a0n&ust=1546039313560642
The benchmark Shanghai Composite Index is nearly 25 percent below where it started this year, making it the worst-performing major stock market in the world. The breakout of a trade war between the U.S. and China has wiped out $2.3 trillion this year, while a deleveraging drive has squeezed margin debt to just one-third of its peak in 2015.
While foreign investors continued to pour money into onshore equities via the stock connects and state funds were said to have bought exchange-traded funds to rescue shares, they did little to arrest declines. There was no place to hide with even the safe-havens losing ground, as the weak Chinese economy hurt spending and weighed on consumer stocks, while a vaccine scandal and a gene-editing controversy sparked a sell-off in the health-care sector.
Here are five charts to sum up the year:
Evaporating Value
Stock declines have shaved $2.3 trillion off China’s market value this year as of Wednesday, the biggest on record since Bloomberg started compiling the data in 2002. The closest loss was during the global financial crisis 10 years ago, when the Shanghai gauge plunged 65 percent. China also ceded its place as the world’s second-biggest stock market to Japan earlier this year.
https://www.google.com/url?sa=i&sou...aw37g9ZT5ZvYNdpHZBFm4a0n&ust=1546039313560642