Tuesday, June 29, 2010

China Leading Index Gain Cut to Smallest in Five Months, Hammering Stocks

The Conference Board revised its leading economic index for China to show the smallest gain in five months in April, in a release that contributed to the biggest sell-off in Chinese stocks in more than a month.

The gauge of the economy’s outlook compiled by the New York-based research group rose 0.3 percent, less than the 1.7 percent gain it reported June 15. The Conference Board said in an e-mailed statement that the previous reading contained a calculation error for floor space on which construction began.
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Original content Bob DeMarco, All American Investor