The stock exchange in China fell nearly eight percent Friday.
Portfolio manager Kristoffer Stensrud in Skagen says to DN that he did not think the stock market decline in China will affect the Oslo Stock Exchange or the oil price.
– Why should it do so? Stensrud says.
ascent we’ve seen has been absolutely absurd, he said. The downturn will seem absurd, it also says the manager.
– This market has been very good since last autumn and is the one for all practical purposes a local bubble. Many valuations have become somewhat extreme to say the least. And then it’s like it always is, when the foundations are of poor nature tumbles gladly edifice together. Beyond that, the Chinese have led a stimulating monetary policy over the past year. There have been a contributory factor here, says Stensrud told DN.
“The rising trend has been broken and it is not far off that development can be characterized as a stool,” said in Our technical analysis Friday.
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