China: “Most Important Story”
by Editorial Staff
Updated: August 31, 2023
Hey, investors, Mark Galasiewski here. The most important story in Asian-Pacific stocks this month is about China.
The month of August 2023 brought an explosion in headlines expressing extreme pessimism on China's economy. Magazine covers during the month also provided color to the trend.
Rarely in my 25 years of observing financial markets have I seen pessimism about an asset class this thick. Yet interestingly, this explosion of negativity has occurred as Chinese stocks are trading well above their 2022 lows. From an Elliott wave perspective, that combination of higher prices and higher pessimism points to a high probability conclusion.
To understand why headlines about China are so gloomy at this moment in history and what opportunities the China crisis may provide, see the September 2023 issue of Asian-Pacific Financial Forecast or Global Market Perspective.
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