Stock price action offers signs of encouragement for China’s beleaguered market. The Shanghai Index climbed +2.9% on impressive volumes, taking markets back to where levels were before the big run-up in September and breaking through key technical levels above 2000.
Chinese technology stocks are exciting for emerging market investors. Just like American tech companies it’s hard to know who will succeed. Here are five technology stocks that investors should keep an eye on.
Asian emerging markets ended the day mixed even after Chinese Premier Wen Jiabao talked about the growing need for the People’s Bank of China to intervene. Hong Kong equities remained strong until late afternoon when the Hang Seng dropped and closed over 89 points to the downside.
The recent lowering of the renminbi’s value by the People’s Bank of China can be viewed as a move to further develop the consumer sector of the domestic China market.