Monday, September 15, 2008

Shanghai Cliff Diving: Composite Index Breaks Below 2K

by Calculated Risk on 9/15/2008 10:36:00 PM

Shanghai Cliff Diving Click on graph for larger image in new window.

The Shanghai SSE composite index fell below 2000 tonight (still trading). This is the lowest level since late 2006. The index is off about two-thirds from the peak.

This is a stunning stock market crash, and it's not just the Shanghai composite - it's an Asian market rout:

The Hang Seng is off 6%.

The Nikkei 225 is off 5%.

The Seoul Composite is off close to 6%.