China Regulator Urges Caution as Stocks Jump to Seven-Year Highs
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China’s securities regulator urged investors to consider risks from the nation’s surging stock market after the benchmark index jumped to levels last seen before the global financial crisis in 2008.
The Shanghai Composite Index rose for an eighth day on Friday, climbing 1 percent to 3,617.32, the highest close since May 2008 and the longest stretch of gains since Oct. 14. The gauge rallied 7.3 percent this week, as transaction volumes soared, margin trading surged to all-time highs and new account openings rebounded to the highest level since December.