Thursday, October 24, 2013
A question on China tech's direction
You have to wonder if China tech stops its advance here:
Because FXI has taken a dive on the "OMG China banks debt writedown DOOOOM" talk:
And China all-cap looks similarly weak:
But all that might just be because they're ETFs, and Americans buy China ETFs, and they might just have decided to switch to puking China ETFs right now, because the Shanghai exchange actually looks like this:
So which way does China tech go from here? Chinese are still making money, and still using it to buy goods on the Chinese internet, and still hanging out on Chinese social media websites.
So the question is one of China tech fundamentals versus what is stupid American money thinking of right here.