Taking stock as tariff threats bite

IN Beijing this week there is a quiet but rising tide of resentment around what is seen as blatant attacks not just on China's economy, but on the right of the Chinese people to aspire to better living standards.

This is not something manufactured by Chinese media. It comes from a deep resolve never again to allow China to be bullied by foreign powers. It comes from an aspiration held by taxi drivers, wait staff, shop owners, executives and CEOs that their children's lives will be better than their own. This conviction is not shouted from the rooftops but it is a common thread in ordinary conversations.

This is the story of the two major influences on our market - the Shanghai Index and the Dow. This determination is seen in the Shanghai index as it clings to support.