CHINA IS THE ASIAN ANOMALY… PerfChart 9 shows the performance for the S&P 500, Shanghai Composite and five other Asian stock indices. The India Sensex Index ($BSE) is leading the way with a 13.19% gain since May 30th. The Shanghai Composite is clearly lagging because it is the only index with a loss since May 30th. The Hang Seng ($HSI) even shows a gain, and a strong one at that. Even though the Shanghai Composite and Hang Seng Index ($HSI) are Chinese indices, the Hang Seng is heavily weighted towards the finance sector and real estate industry. The Shanghai Composite, on the other hand, is a more evenly balanced index based on stocks from mainland China.
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