China property, manufacturing slows as economy starts to cool [ Telegraph.co.uk]
China's manufacturing activity slows: HSBC - [AFP]
HSBC China April PMI falls to 55.4 vs 57.0 in March [Reuters]
Tough rules set to drop home prices 30 percent - [China Daily]
UPDATE: China Yuan Down Late On Reserve Requirement Ratio Hike [Wall Street Journal]
Luxury home prices down, thanks to new regulations [China Daily]
I’ll Tell You When Chinese Bubble Is About to Burst: Andy Xie BloombergBusinsessWeek]
If you remember on February 23, 2010, Goldman ($GS), the Shanghai Index ($SSEC) and the PIIGS (Portugal, Ireland, Italy, Greece, Spain) were all trading BELOW their 200DMAs. After a few whipsaws, the 200 day moving average resistance level is still holding (Charts, 2/23). Along with Jim Chanos (see the 45 minute presentation Chanos made on China), Vitaliy N. Katsenelson (CFA Director of Research / Portfolio Manager at Investment Management Associates) put out a detailed research report explaining why China is the "mother of all black swans", or unforeseen events. I embedded it below.
China - The Mother of All Black Swans by Vitaliy Katsenelson - April 2010
Look at the charts of China. There were clear uptrend breakdowns as you can see. For FXI, $36 looks like the first support level and 38.2% retracement. If you look at the Shanghai Composite going back to 2001, 2233.75 looks like a support level. EWH, the Hong Kong ETF, pierced the 200dma and could revisit $14.25 first. Support for the Hang Seng Index hits around $17,761 from 2000.
FXI Monthly (FreeStockCharts.com)
FXI Daily Chart (Zoomed In)
SSEC, Shanghai Composite
EWH (iShares MSCI Hong Kong Index Fund ETF)
Hong Kong Hang Seng Index