| Marketwatch reports China has entered a new stock frenzy, like something out of America in the Roaring 20s, with trading volumes continuing to push to record highs. On Wednesday, combined trading on the Shanghai and Shenzhen markets hit 1.24 trillion yuan ($198 billion), the seventh straight session in which turnover surpassed the 1 trillion yuan mark. The New York Stock Exchange only saw $40 billion-$50 billion a day in trading during the first two months of this year. The Shanghai Composite is near its seven-year closing high of 3,691, hit Tuesday when the index completed a 10-session winning streak. So far this year, the index is up 13.8%, making it the best-performing major East Asian stock index of 2015 to date, though it still has a way to go to match 2014’s 53% surge. The lure of flush times on the Shanghai market is attracting hundreds of thousands of new investors. This week, both the China Securities Daily and the Beijing Morning Post had reports about recent college graduates and teenagers buying shares. |
