May 01 2007
China continues to defy gravity w/o a net
Chinese stock market had a return of 130% in 2006, and up again 40% this year. Shanghai index closed at 3,841. Geeeee… 4,000 is just around corner. FT reported that in recent weeks, bout 1m a/cs have been opened every week, bringing around RMB200bn (US$26bn) into the market over the past month … Chinese holds about RMB16,000bn in bank deposits, with very little options to other investment vehicles.