Bulls In The China Shop

Low stock prices and less fear of new markets boost trading

The Chinese New Year doesn't begin until the middle of February, but in one respect, the country already seems to be making a fresh start. Chinese stocks trading in Hong Kong, New York, and Shanghai are staging a surprise rally after plummeting in 1995. The Credit Lyonnais Securities H-Share Index of Chinese companies listed on the Hong Kong Stock Exchange rose 29%, from 806 on Dec. 27 to 983 on Jan. 5. That's a 44% gain from the record low set on Nov. 16.

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