Feb 27 2007
If I had to guess (and I am not a finance expert) it is possible the worst of the global correction is over. It started in China and hit here, averaging 3% everywhere. The last of the markets are being hit now. Japan’s index started 3% down and seems to be levelling off (possibly too early to tell). New Zealand’s definitely did as did South Korea’s – so if they all follow the same trend they represent the last markets to see the echo which started on the China index on what was yesterday. It is now 7:45 PM Eastern, which means the Shangai index will open soon. If it stabilizes it is a great indicator the correction, long overdue, may be pretty much a one day event.
Update: The market that started the drop (the Shanghai Composite) today has erased half its losses, with all other Asian markets rebounding from their starting lows. Seems the big correction might be over.