My YAHOO fantasy trader account is currently running a 0.90% profit which is much lower than my targets. This has generally been caused by the recent news from China where they are now ending their era of cheap credit. Due to this news, markets world wide where triggered and began to fall, this is because investors are less optimistic about their Chinese stocks as there is less credit available in the economy which may impact growth.
The graph above shows the Shanghai Composite SSE over the past 5 days, it can be seen that when the news broke on Monday it sent this index down all the way past the 1900 point mark.
Before the news of Monday my portfolio was on a steady curve upwards, this is due to the previous week where I purchased small stakes in companies which where trading low.
The graph above is of my portfolio, it can be seen that due to the Chinese Market news which broke on Monday my portfolio has been effected and is now down to a similar level displayed last week. However currently (24.06.13) The FTSE 100 is seeing gains of 0.98% and is up 59.28 points which is helping some of my positions to recover.
In the coming weeks I will look to see whether the markets will shake off this bad news and start stabilising. This is because with all this bad news breaking most stocks are very volatile especially for the short term.
Daniel Butler
Sources : Yahoo Finance
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