More bears waking from global hibernation.
“Pessimism will keep growing as many companies are on the edge of margin calls and bond defaults,” said Sun Jianbo, China Vision Capital president in Beijing. “The benchmark Shanghai Composite Index will fall at least 10 percent from the current level.”
“I don’t see the bottom,” said Qian Qimin, a strategist at Shenwan Hongyuan Group Co. in Shanghai. “The weakening yuan is hurting companies with high levels of dollar debt.”