A quick look at the Asia Pacific Markets this evening shows Australia (AORD) up 1.89%, HSI Han Seng (Hong Kong) up 2.44%, the Nikkei (Japan) up 1.4%, Seoul (South Korea) up 2.18%, Taiwan up 2.36% and once again SSEC, the Shanghai composite is not participating.

$SSEC Shanghai Composite Daily

click on chart for sharper image

Europe is in recession, the US is headed there (or already in recession), and China is slowing far more than anyone thinks. This does not bode well for strong commodity demand looking ahead.

Mike “Mish” Shedlock
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