| At the end of Feb. Chinese A share markets slumped as markets panicked on rumors that Chinese government planned to impose a 20 percent capital gain tax on stocks as well as profit-taking by investors on heightened concerns about high valuations. In the meantime, the latest U.S. economic data was weak and housing market showed further sign of slowing. The U.S. subprime mortgage meltdown was intensified and the former Fed chairman Greenspan warned of likely recession by year end. These factors, coupled with investors unwinding their Yen carry trade positions as the dollar fell against Yen, sent global markets down dramatically on Feb. 27th and 28th. Emerging markets were hit harder. The MSCI Emerging Market I
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Audience Confirmation     |
Emerging Markets Get More Diversified
At the end of Feb. Chinese A share markets slumped as markets panicked on rumors that Chinese government planned to impose a 20 percent capital gain tax on stocks as well as profit-taking.....
Jessy Yang
30.03.2007
