China Meltdown So Large That Losses Eclipsed BRICS Peers, Twice
- Brazil, Russia, India, S. Africa markets $2.8 trillion in size
- Chinese stocks have plunged 43 percent since June 12
Chinese one-hundred yuan banknotes are arranged for a photograph.
Photographer: Tomohiro Ohsumi/BloombergThis article is for subscribers only.
Take the combined size of all stocks traded in Brazil, Russia, India and South Africa, multiply by two, and you’ll get a sense of how much China’s market value has slumped since the meltdown started.
Shanghai-listed equities erased $5 trillion since reaching a seven-year high in June, half their value, as margin traders closed out bullish bets and concern deepened that valuations were unjustified by the weak economic outlook. The four other countries in the BRICS universe have a combined market capitalization of $2.8 trillion, according to data compiled by Bloomberg.