This chart is delayed by one day - the close Friday was @ 2971.
- The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, gained 91.52, or 3.2 percent, to 2,971.16 at the 3 p.m. close, the most since May 24 and the longest winning streak since the eight days to Nov. 10, 2009. The measure has risen 8.5 percent this week, the most since Feb. 6, 2009, after the markets were shut last week for a holiday as global stocks rallied.
- The Shanghai gauge has rebounded 26 percent from the 2010 low on July 5; the measure is still down 9.3 percent this year as government efforts to cool the economy and avert asset bubbles helped drag the gauge down 27 percent in the first half.
- “Expectations that the U.S. Federal Reserve will initiate a second round of quantitative easing -- the so-called QE2 - continued to occupy investors,” EPFR said. “Emerging market equity funds again enjoyed solid inflows during the second week of October as investors gravitated to the faster growth rates and appreciating currencies offered by this asset class.
- Royal Bank of Scotland Group Plc turned bullish on stocks in China and the rest of Asia this week, saying they will benefit from a global “liquidity wave”.
Boo yah, we're all getting rich. One only wonders why we don't have permanent QE each and every year - no one would need to work.