The end in sight for Shanghai’s bear market?

I have described before the decent correlation between the HSBC PMI New Orders minus Inventory measure and the Shanghai Composite. Yesterday’s result looks pretty happy:


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  1. I don’t think it will pick up much, I think what will happen is things may remain steady or pick up a little as the Chinese new year comes, then it will flat line again. If the EU can’t get its Sht*t together exports in China will only keep dropping and I would think the PMI will drop back as well.