PetroChina now the world’s largest:
If you needed confirmation that the Chinese stock market is over valued look no further. PetroChina tripled in value on its first day of trading in Shanghai. The company now has a market value of over $1 Trillion, the first company in history to do so making it the largest company in the world when ranked by market capitalization, larger than the market value of Exxon and GE combined.
The risk in the Chinese equity markets has gone through the roof and this latest example of extreme valuation is just another indication of the excesses in the market. As I have been saying for months, stay away for direct Chinese investments but continue to invest in companies that supply the materials required to build the industrial infrastructure and complete the modernization of the Country.
For more information go to www.campbellreport.com
The risk in the Chinese equity markets has gone through the roof and this latest example of extreme valuation is just another indication of the excesses in the market. As I have been saying for months, stay away for direct Chinese investments but continue to invest in companies that supply the materials required to build the industrial infrastructure and complete the modernization of the Country.
For more information go to www.campbellreport.com
posted by Grant | 11:49 AM
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