China’s NASDAQ crashes, does it matter?

Friday 26 June 2015

Shanghai may be down, another 4% today:

And have some hope of finding a support level. But you can’t say the same for Chinext, China’s tech-heavy NASDAQ equivalent, down 8% today and looking very like it’s headed for Hell:

Where high-beta goes the overall market will follow. Does it matter?

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.