The world’s most bullish stock market, the Shanghai Composite, took a run at the 5000-mark at the start of trade today and failed.
It looks like the overhead resistance was huge: after the lunch close the index fell hard trade in a a monster day of trade that saw 1.2 trillion Yuan in turnover, a record high.
Reuters says the index closed down 6.5% for the session.
Here’s the chart:
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