It used to be said that when American stock markets caught a cold, Asian stock markets needed to worry about influenza. The turbulent events of this week on global stock exchanges partially vindicates this adage but something has changed and it’s quite profound, namely that the major Asian markets of today are proving to be less excitable than they used to be. In percentage terms, Asian stock prices this time have fallen pretty much in line with their US counterparts. Compare that with…
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