China Stocks Will Only Get Wilder After July Whipsaws Investors
- Past month tests Beijing’s ambition for a slow bull market
- Volatility to continue into August amid heightened tensions
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Even by China’s standards, July was a wild month for its stock market.
A gauge of Shanghai’s large caps had its best day in five years, while Shenzhen’s high-priced tech firms briefly became the world’s hottest stocks. Turnover exceeded 1 trillion yuan ($143 billion) for 17 consecutive days, something that hadn’t happened since 2015. Kweichow Moutai Co., the country’s largest stock, set seven new all-time highs in July before losing a record $25 billion in a day.