Lunar new year holidays mean China is closed all next week
Chinese markets are closed throughout next week to celebrate lunar new year. 2019 is the Year of the Pig for the first time since 2007.
The Shanghai Composite finished near the highs of January today, up 1.3%. The index is down 27% since last February.
However, Stansberry Pacific Research notes that the historical returns in the Year of the Pig since 1988 have been great at +25.2%, third best on the Chinese zodiac.
The Chinese market is relatively new so that's only 3 data points. However using the S&P 500 as a benchmark, the pig lives up to its name. It's mean return since 1928 is 18.1%, the best on an Chinese year.
