Here’s the news, from DJ:
Asian Shares: China Stocks Fall Despite Rosy Growth Data
…Stocks in China were lower even after better-than-expected second-quarter growth figures, while markets elsewhere in Asia rose amid optimism Greece’s Parliament would approve a rescue deal to keep the country in the eurozone.
The continued slide reflects deepening doubts among investors that Beijing can turn things around. Some 696 mainland firms remain suspended, representing about a quarter of the market in terms of number of firms, according to FactSet. Foreign investors have pulled capital out of Shanghai stocks for seven straight days, via a trading link with Hong Kong, the longest stretch of net outflows since the program began last November.
And Shanghai is falling again:
Remember that the Shanghai bubble was born in Chinese weakness and monetary easing not economic strength. The better the economy gets the worse it will be for stocks as stimulus is withheld.
Gonna need to threaten sellers with crucifixion to prevent this from falling!
