You know that the Shanghai market has been weak, but the trouble is worse if you look beyond the Shanghai Composite.
China’s B shares index contains the 53 Chinese companies that foreigners are allowed to invest in.
As Alphaville notes, that index s getting absolutely punished. Concerns about fraud (reverse mergers) have really spooked the entire scene.
In short, its like this:
- -12.8% last week.
- -18% since May.
In the meantime, the index still lags (on the downside) the gigantic plunge seen in Bloomberg’s reverse merger index, though it’s catching up fast.
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