Just to provide an update on an earier post. I mentioned in a post on 8/22/07 about the rampaging stock market over here in Shanghai. The Shanghai index on that day closed at 4980. Well in less than a month the index now stands at 5771. This mania has even spilled into the Hong Kong stock market since the Chinese government announced that they will start to allow Chinese citizens to invest in the Hong Kong stock market. Since that announcement on 8/20/07 the Hang Sang index has risen from around 20,387.13 to 28,569.33 where it stands today, a 40% rise. As this bubble continues to roil seemingly unabated the inevitable crash will be more and more painful.
Quotes for the Shanghai index:
http://finance.yahoo.com/q/hp?s=000001.SS
Quotes for the Hang Sang index:
http://finance.yahoo.com/q/hp?s=%5EHSI
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