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We have two, one upstairs and one downstairs, which we glance at frequently, and it was their arrival that prompted the frenzy of taping and draught-excluding that continues to this day. When I first arrived in China, five years ago, there was no way of monitoring the quality of air in our home. Like everyone else, we left it to blind faith that our air purifiers were doing the trick. It now transpires they weren't. Even now on highly polluted days, we struggle to get our PM2.5 count much below 25 micrograms per cubic meter, the World Health Organization's maximum standard for safe air. And that's with multiple purifiers running at full tilt, large box-like machines that sit in the corner of every room - two in some - the combined noise output of which is akin to living in the engine room of an aircraft carrier. Image copyright Alamy Image caption Shoppers look at air purifiers in Beijing China's air pollution problem is now so bad that its effects are measured in more than a million premature deaths a year and markedly reduced life expectancy - an average of more than five years or so - in the worst-affected regions. Over the past few weeks, a period of particularly acute and prolonged air pollution, the average air quality in Beijing has been well above 200 micrograms of PM2.5 particles per cubic metre - many times the maximum safe limit. During the worst of it, it's been like living under house arrest, our children confined to the small, deafening but breathable indoor space of our home for days on end. And across China, the smog becomes a dominant topic on social media, with the population tracking the foulness of the air via mobile phone apps. One group of Beijing mothers, armed with their own PM2.5 counters, have even been roaming the city in search of shopping malls or cafes with filtered air - and then sharing their discoveries online.

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And, in fact, in the past few days the index has broken out above an important cluster of resistance near the 2050 level and in convincing fashion. View photos The resistance near the 2050 area included: The Post-2015 Down trendline, and The 61.8% Fibonacci Retracement of the April-August 2015 decline This breakout should open up considerably more upside for the KOSPI. The 78.6% Fibonacci Retracement of the April-August 2015 decline, near the 2100 level, may offer some resistance. However, with the more serious resistance near 2050 cleared, a potential path to its April 2015 highs near 2170 is not unreasonable if the breakout is successful. Of course, that last caveat is always the catch. If weve learned anything from global markets in the last half decade or so, it is that theyve demonstrated a considerable proclivity for false breakouts and breakdowns. Therefore, when approaching breakouts, one should do so with a trust but verify attitudeor, perhaps, dont trust but verify. That said, we have witnessed more than a handful of successful breakouts over the past few months, e.g., banks, FTSE-100, etc., so perhaps that is more reason to resist dismissing this breakout. For U.S. investors, a better reason to dismiss it, as always, is the difficulty in identifying a reliable vehicle in which to exploit the move.

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