Midas

Midas: Shanghai has closed 13 stations and slowed metro trains after 2 trains collided on Tue, injuring 271 people. Latest action could likely put a setback to recent reports in Aug that China will spend Rmb1.27t or US$99bn by 2015 to build 2600km of urban subways and light-rail train systems, with Rmb170bn for urban rail in Beijing and Rmb128bn in Shanghai. Technically, see immediate support at $0.375 (Yr low)