Shanghai Is Looking More And More Like Japan's Great Bear Market

Earlier, I pointed out that Chinese equities have been doing very disastrously for the last few years, and it starts to look like the Japan’s 20-year long (still counting) mega-bear market.

It would be quite unusual here to say that Chinese equities are in the third year of a 20-year bear market.  Indeed, it would have been extremely controversial.  After all, the Chinese economy is still doing fine now.  So the irony here is that even though it is one of the fastest growing economy, the equity market has sucked.

Once again, the chart below compares the performances of Shanghai Composite and Nikkei 225 from the point they hit the all-time high.  Both are in nominal term priced at their local currencies respectively.  The all-time high level is rebased to 100.


This article originally appeared here: Chart: Mega-Bear Markets Update
Also sprach Analyst – World & China Economy, Global Finance, Real Estate

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