Donnerstag, 18. Juni 2009

China's Stock Market

Snippet from today's FTD:

China's CSI500 small cap index has apparently reached a P/E of 68, only a bit short of its all-time-high of 69 in early 2008.

Similar indices for other emerging markets show much lower P/Es: Brazil 28, India 12 and emerging markets overall 18.

It's always a bit tricky to calculate market P/Es, but 68 sounds extremely high by any measure.

Bubble-trouble, or appropriate reflection of China's marvelous future?

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