China stocks 'to fall another 14%'
Tom DeMark, who forecast Shanghai Composite's bottom in 2013, says market's trading pattern resembles 1929 US crash
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
CHINESE stocks will decline by an additional 14 per cent over the next three weeks as the market demonstrates a trading pattern that mirrors the US crash in 1929, according to Tom DeMark.
The Shanghai Composite Index will sink to 3,200 after plunging 8.5 per cent on Monday to 3,725.56 in the worst selloff in eight years, Mr DeMark, who predicted the gauge's bottom in 2013, said on Monday. That would extend its decline since a June 12 peak to 38 per cent.
The index's moves since March are tracking those of the Dow Jones Industrial Average in 1929 when the gauge lost as much as 48 per cent, he said.
Share with us your feedback on BT's products and services
TRENDING NOW
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
Near sell-out launches in March boost developer sales to 1,300 units after four slow months
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
