Shanghai sinks again

Advertisement

Today’s yuan fix was flat:tvc_b3ac615506386a9ae3ffb303c001746c

But selling has resumed in Shanghai, down 3% now and gathering steam:

tvc_620e45688ea5cb313b941973745d18cb

It’s pulling down local stocks and S&P500 futures now…

Advertisement
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.