Beneath the Surface of China’s CSI 300 Index is Kind of Boozy
On January 3, 2019, Chinese stocks made a v-shaped bottom and surged into a peak on April 19, 2019. Since then, stocks have corrected by about 7%, dropping, recouping about 6% of the peak to trough decline that ended on June 6, 2019.
Interesting, when I look through sector performance, it looks like the index is being held up by one sector—consumer staples. All other sectors have corrected significantly since the April peak, while consumer staples have held steady.