Today's M^3 - Shanghai SE B Share Index Down Over 12% for the Week

Today's Major Market Move feature involves the Shanghai SE B Share Index which is the special Chinese exchange for foreign investors. For those of you lamenting the 5% downward move in most of the US indexes this past month:


you can take some perverse consolation in the fact that you weren't invested in the Shanghai B Share Index which is down 12% for the week and 17% for the month(unless of course you were invested in both, in which case be happy that your savings weren't denominated in Belarusian Rubles).

Shanghai SE B Share Index:



(Click on the charts for a larger view. Click here for the current performance of the Shanghai SE B Share index).

The recent major downward move in the Shanghai B index was precipitated in part by a warning from US regulators "about the risks surrounding Chinese companies that have listed there through reverse mergers."