A Stock That Rides Every China Bubble Returns Stronger Than Ever
- Engine maker Anhui Quanchai has soared 182 percent in 2019
- Average daily turnover is higher than oil giant PetroChina
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A little-known maker of fire-truck engines that rides every melt up in China’s equity market is at it again.
After doing next to nothing for months, Anhui Quanchai Engine Co. has surged 169 percent this year on record volume, beating all but two of the other 1,500 companies on the Shanghai Composite Index, which has rallied 19 percent. The stock’s average daily turnover for 2019 is almost 50 percent higher than that of oil giant PetroChina Co., a company about $200 billion more valuable.