Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of China-focused financial software vendor Longtop Financial Technologies (NYSE: LFT) crashed today, falling as much as 15.1% on intermittently heavy trading.

So what: A Wall Street Cheat Sheet article published Monday afternoon highlighted the Hong Kong-based Longtop among a basket of mostly small-cap stocks bound to lose if the Middle Kingdom sees its real estate market weakening.

Now what: The story cites an Australian news broadcast discussing how China's government is basically building needless ghost towns in order to keep employment high and GDP growth rising. If true, the rip-roaring Chinese economy could come to an abrupt halt when that artificial bubble pops, but then again, that Australian show might miss the mark. This episode illustrates the difficulty of investing in companies and economies far from home, and with limited market regulation.

Interested in more info on Longtop Financial Technologies? Add it to your watchlist.