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China's Pummeled Stock Market Is Now Worth Only Five Apples

  • Selloff wipes nearly $2.7 trillion in value since January high
  • Shanghai Composite Index closed near four-year low Wednesday
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Chinese Equities Are at a Bottom, Evercore ISI's Straszheim Says

China’s equity market, having ceded its position as the world’s second-largest to Japan, continues to lose value and is now worth five times that of Apple Inc.

At its peak in 2015, China’s market cap was more than $10 trillion. It’s almost halved in size since then, to $5.73 trillion as of Tuesday. That’s 5.3 times Apple’s $1.08 trillion value, the lowest ratio since 2012, data compiled by Bloomberg show.