{"id":233927,"date":"2010-01-26T21:11:00","date_gmt":"2010-01-27T02:11:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/can-shanghai-hold-3000-2010-1"},"modified":"2010-01-26T21:11:00","modified_gmt":"2010-01-27T02:11:00","slug":"can-it-hold-3000","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/233927","title":{"rendered":"Can It Hold 3,000?"},"content":{"rendered":"

Looking for a psychologically significant, nice, clean multiple of 1,000 to multiple to fret about?<\/p>\n

Forget about Dow 10,000. We’ve cris-crossed that one so many times we’re bored of it.<\/p>\n

Your real focus should be on Shanghai 3,000, a threshold above which China’s benchmark index sits precariously above, opening this morning down .4% to 3,007<\/a>.<\/p>\n

As China remains the driver of global growth (see: the economies of Australia, Brazil et. al.), while also heading into a tightening phase, this remains the<\/em> level to watch. It makes sense, too, given that Bernanke has been replaced by the PBOC governor on the world stage<\/a>.<\/p>\n

By the way, if you haven’t read it, and you want to read something scary before bed (for Americans), do read this description<\/a> of what the shock tightening has done to Chinese trade in just the last few days. Those prone to nightmares may opt to wait until morning.<\/em><\/p>\n

\"chart\"<\/p>\n

Join the conversation about this story »<\/a><\/p>\n

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