News Snapshot:
With US stocks suddenly in freefall, they are only now catching up to a recent bout of weakness in China where the Shanghai Composite – which has gone nowhere since early July – just dropped below its 50DMA. The lack of a market meltup in China, however, has clearly not dented local appetite for stocks and as a result the founder of China’s biggest bottled water company – whose red-capped plastic bottles can be seen at most official gatherings in China because apparently in China there are huge barriers to entry to putting clean water in a plastic bottle –...
