The Hang Seng underperformed today labeling itself as the worst performer in Asia as shares dropped
to their lowest in 3 weeks, losing 1.1%. Belle international, a Chinese footwear retailer was among those
dragging down the index, losing 4.6%, its worst in 7 months as the CEO said he expects pressure from
discounts of rival firms as they reduce inventory. Li Ning shed 4.3% ahead of earnings today, down 28%
this year. Oil giant CNOOC is down again today showing a 1.7% loss.

The FTSEurofirst is currently down .7% led by cyclical stocks and weak data from Japan exports. Miners
are down 1.7% hurt by poor results from global player BHP, who projects a 35% fall in second half
profits. Other cyclical stocks; autos and construction, fell 1% and 1.2% respectively. Banks are also down
0.6% today. Around Europe the Dax is -.72%, the CAC -.61% and the Madrid General -.83%.

MBA applications show worse this week down 7.4%.

Amazon launched the India Kindle store on its website, with over 1M titles offered in rupees.

In commodities crude is beginning down today while gold, silver and natural gas are looking to have big
gains.

Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market.
Comments can be directed to ryghcw19@uww.edu