China Data Not Enough to Rescue Stocks From Worst Week of 2019
- Shanghai Composite loses 1.8 percent, among world’s worst
- Government bonds drop after economic reports show improvement
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A week of profit taking in China’s equity market has traders wondering whether the bulk of this year’s rebound is over.
Investors pocketed gains even though improving economic data had only just started to lend legitimacy to the world-beating rally. A report showing exports rebounded in March provided only a brief boost to Chinese stocks on Friday. The Shanghai Composite Index had its worst week of the year, with analysts saying the government may want to contain the amount of leverage in the equity market. Margin debt is nearing 1 trillion yuan ($149 billion).