No Bounds for China's Stock Frenzy
Chinese investors have taken irrational exuberance to entirely new levels. On Oct. 15, the Shanghai Stock Index blasted through the 6000-point mark, and closed at 6337 on Oct. 17, up an astonishing 125% since the beginning of the year. The broader CSI 300 index of the top Shanghai- and Shenzhen-listed companies is up 185% and shows no signs of slowing. "It's totally out of control," says Carl Walter, a managing director at JPMorgan (JPM) in Beijing who co-authored a book, titled Privatizing China, about mainland stock markets.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Fewest Jobless Claims Since 1973 Show Firm U.S. Job Market
- Germans Are Going Wild for a Show Set During the Dawn of the Nazis
- U.S. Senate Adopts Budget, Giving Momentum to Trump's Tax-Cut Plans
- The U.K.'s $86 Billion Pension Problem Is About to Solve Itself
- Greenwich Mansion Listings Pulled to Wait for a Better Day