Spare a thought for the punters on the Shanghai Stock Exchange. The market was already down by around two thirds for the year when the financial tsunami hit. Now, as other markets are beginning to stabilize or in fact recover some ground, it continues to head for the bottom. Here’s a comparison of its performance over the last year with other major Asian bourses. I think a lot of Chinese investors will be hiding their cash under their mattresses for some time after getting burnt this badly. Some reports say that two thirds of China’s billionaires have been wiped out by the plunge in the Shanghai Composite.
