Market Comment – A Mixed Summer Picture
The focus has shifted from Greece to China over recent days. Shares on the Shanghai Stock Exchange have continued to give investors a rough ride. While the problems stem mainly from the speculation that accompanied the end of the bull run and the role of the banks in funding domestic investors, there can be no doubt China’s economic growth is slowing. Witness the recent fall in the oil price to below $50. Little wonder global growth expectations are being ratcheted down.