Well, China's world-beating equity rally wrapped up the quarter in dramatic fashion on Friday with mainland shares surging nearly 4%.
Friday was the second best day of the year for the CSI 300 and the second session in 2019 that the gauge has risen more than 3.5%.
Friday's mammoth rally brings the Q1 gain for the index to an astonishing 29%. That's the best quarter since Q4 2014 or, more to the point, the best quarter since the lead-up to China's epic stock bubble which ultimately burst in the summer of 2015.
Notably (and we've mentioned this before) onshore shares are trouncing their Hong Kong counterparts this year. This is the first quarter in nine that the SHCOMP has outperformed the Hang Seng China Enterprises index which, you'll recall, started 2018 on a blistering run that was the talk of the financial universe.
Comparisons to other global benchmarks are a joke. Mainland Chinese equities are so far ahead of their counterparts in, for instance, Europe, Japan and the US, that they almost don't belong on the same chart.
Meanwhile, the China-US "equity ratio" (that's a crude label that I'm not particularly fond of, but c'est la vie) which sank to a listless nadir as
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