This Week in China: Chinese Bank Stocks Are World’s Best as US, Europe Crack
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Triumphalism is taking root among China’s equity trading community. The nation’s banking system, the argument goes, is shielded from global volatility and can withstand acute financial distress.
The optimism has been on full display. Of the 166 listed lenders tracked by Bloomberg across the world, almost all the top performers this week are in China. The country’s lenders rallied even as two bank failures in the US and one rescue — plus panic over Credit Suisse Group AG’s future — roiled markets from New York to Zurich and Tokyo. Bank of China Ltd.’s shares just had their best week in four years in Shanghai.