This year and last saw Chinese stocks retreat after an extraordinary 80.0% run-up in the closely watched Shanghai Composite Index in 2009.

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But studies have shown mixed performance in the run-up to the Games, but interestingly, all recent Olympic hosts have outperformed the MSCI World index in the 12 months following the Olympics.

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But the ratio of inventories to orders is now back at its long-run average and the index has eased to 55 in June from a peak of 57.8 two months before.

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Currency-only hedge funds made a 6% loss in 2011 and a gain of just 0.8% in 2012, according to a benchmark index run by fund-of-funds manager Parker Global Strategies LLC.

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The half of your money in a low-cost index fund, such as one from Vanguard, should run up expenses of just 0.2% a year.

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That index has not been in positive territory since a two-and-half-year run ended in December 2007.

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In January, it was given an index figure of 53.9, above its long-run series average.

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The index fell to 54.2 from 55 in the first quarter, below its long-run series average of 54.8 and to its weakest level in two years.

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