The spike of the money market rates last week in China caused a near panic selling of equities. The selling continued today and as the result, the Fidelity China Region Fund (FHKCX, last change: -3.21%) was the weakest performing Fidelity international fund. The intensity of the selling and the extent of the drop make us believe, that an oversold rally should happen soon. Our hope is that this will stabilize the Chinese equity market and build a new base for future growth.
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