Courtesy of Mish.
The Shanghai stock market is on a tear as the following charts show.
$SSEC Shanghai Stock Exchange Monthly
click on any chart for sharper image
$SSEC Shanghai Stock Exchange Weekly
Cannot Wait to Get In
Since July 2014, the index has gone from roughly 2066 to 3810. That is a rise of 84% in eight months. As with every major bull market participants just cannot wait to get in, and cannot get in enough when they do.
China Margin Debt Soars to 1 Trillion Yuan
Bloomberg reports Shanghai Traders Make Trillion-Yuan Stock Bet With Borrowed Cash.
Shanghai traders now have more than 1 trillion yuan ($161 billion) of borrowed cash riding on the world’s highest-flying stock market.
The outstanding balance of margin debt on the Shanghai Stock Exchange surpassed the trillion-yuan mark for the first time on Wednesday, a nearly fourfold jump from just 12 months ago. The city’s benchmark index has surged 86 percent during that time, more than any of the world’s major stock gauges.
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