EMerging Equity
Asian Financial Crisis
Chinese Stocks Could Fall Another 20% Before Bottoming Out, Magnus And DeMark Say
Chinese stocks are set to see a further drop, despite a recent rout in equities, as government efforts to prop up its $5.1 trillion market have failed, according to world-renowned forecasters George Magnus and Tom DeMark. Magnus and DeMark both believe that the benchmark Shanghai Composite Index could fall around another 20 percent from their current level of 3,160 to around the 2,500 level. The Shanghai Composite … Continue reading
George Magnus: Another Asia Crisis Is Not Inevitable — But Don’t Rule It Out
By George Magnus Financial instability in Asia and elsewhere has been attributed, partly, to China following the mishandling of a mini-devaluation of the yuan in early August and a failed attempt to prop up the flailing equity market. Yet the prevalent thinking now is that these developments reflect not only a structural slowdown in China’s economy … Continue reading
Asian Financial Crisis Redux?: Is Malaysia Set To Introduce Capital Controls, Currency Peg?
In July 1997, during the dawn of the Asian Financial Crisis, the Malaysian ringgit was heavily traded by speculators. The overnight rate jumped from under 8 percent to over 40 percent. This led to rating downgrades and a broad selloff of its stock and currency markets. By the end of 1997, Malaysia’s ratings had fallen many notches from investment grade … Continue reading
What In The World Just Happened In Switzerland? – OpEd
By Michael Snyder Central banks lie. That is what they do. Not too long ago, the Swiss National Bank promised that it would defend the euro/Swiss franc currency peg with the “utmost determination”. But on Thursday, the central bank shocked the financial world by abruptly abandoning it. More than three years ago, the Swiss National … Continue reading
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