While You Were Sleeping, Chinese Stocks Soared The Most In A Year

In a testament to the resilience of the emerging market rally and also to investors' (possibly blind) faith in Beijing's ability to successfully deleverage the financial system without undercutting growth, Chinese stocks had their best day in a year on Friday as the SHCOMP rose 1.8%: You'll note from the chart that's the highest close since January of 2016 when the bottom fell out amid worries about the pace of the yuan deval and a burgeoning global deflationary impulse. The CSI 300 Index ros