Shanghai Composite down almost 50% since peak in Oct.!!!
Today's newspaper, China View (Xinhua Press - the government news service):
Chinese shares dive nearly 4%, approach half of record high
What an amazing turn around. When I came to Shanghai, everyone was invested in the market. The market was trading at a PE of 60 (price to earnings ratio: the price one is paying for $1 of earnings). Considering that 20 is around the range one normally feels a "high" value ...Chinese shares continued dropping on Friday, with the benchmark
The index, which covers both A and B shares, slumped 3.97 percent, or 128.07 points, to 3,094.67.
It was 49.5 percent off from a record 6124.04 set in October and the lowest in more than a year.
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