At the time of writing this post, the Chinese stock market has not even completed it's 2nd day of trading for the week and already the Shanghai SE B Share Index is down 8.3%. Most of China's other equity indexes are down as well but not to the same extent as the SE B Share Index. Here's the top 10 declining equity indexes for the week so far:
What is particularly disconcerting for investors in Chinese equities is that several Chinese equity indexes have broken down to new lows not seen since 2009, including the benchmark Shanghai SE Composite Index.
While we're on the subject of China, let's take a look at what the Chinese authorities have been doing with the Yuan.
There's been a slight amount of devaluation in 2012 but not enough it appears to rankle the politicians. The number of references to China and the Yuan by the competing campaigns appears to have dropped way off over the last couple of months. We think this next chart is also a big part of why that is:
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