After a dizzying expansion, the BRIC bubble appears ready to burst. Share prices in Brazil, Russia, India and China — the so-called BRICs — have been declining sharply because of the global credit crunch and military tensions, likely forcing Japanese retail investors to change their investment strategies.

In the past year, the Shanghai A-Share index has plunged 60%, India’s Sensex index 33%, Russia’s RTS index 32% and Brazil’s Bovespa Index 25%.

http://www.nni.nikkei.co.jp/FR/TNKS/Nni20080827D27VS742.htm