Adam Hamilton (July 10, 2015) - [...] the Chinese stock markets had been the most-interesting financial story of 2015. Having the world’s second-largest economy, China is immensely important in global markets. And its stock markets were soaring, as evidenced by China’s flagship benchmark stock index. It is the Shanghai Stock Exchange Composite Index (SSEC), the local equivalent of the US S&P 500.
By the ends of March, April, and May, the Shanghai Comp had soared 15.9%, 37.3%, and 42.6% year-to-date! Such gains were astounding, creating the equivalent of trillions of dollars of wealth for Chinese stock investors. And unlike major stock markets in the West, China’s are dominated by its army of retail investors. Ordinary Chinese people account for over 5/6ths of all the national stock-market transactions. So China’s soaring stock markets truly were a popular speculative mania. More HERE
