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In China, ‘It’s Absolutely Insane’
Chinese equity investors are an excitable lot, God bless 'em. And international investors were woefully (albeit understandably) under-exposed to local equities. That's a combustible setup in the presence of stimulus.
On Monday, just ahead of the Golden Week break, the Shanghai Composite Index scored a superlative gain, where that means the benchmark rallied a delirious 8%. And no, that's not a typo.
It was the best one-day gain since 2008, and it was even more impressive -- or ridiculous, depe
“There’s no other way to be rich other than redoubling bets on stocks,”
So sports betting is unavailable? We are blessed to live in the USA where we can play zero-day options and bet not just final scores but what the next pitch or play will be.
0DTE is a human right! 😉
I have never thought Americans were all that fond of capitalism. They are generally greedy, yes, but they hate competitors, protective regulations, moderate growth, and markets in general, especially since they mostly don’t understand them. They also don’t actually understand capitalism either Really, it’s just money Americans worship and they want to be the only ones who have any.
Going back ten years on the CSI300, I see several huge gap ups like the current one, and over that period CSI300 has underperformed S&P500 by around 150%. If we say that Xi really consolidated power around 2020, more like 190%.
Europe is probably the closest thing to something in between.
A huge stimulus shot in the arm. Yaaayyy! It will wear off.