Chinese equities conquered all during the first quarter of 2015, as domestic retail investors betting on stimulus fuelled a rally that analysts have already dubbed a new stock market bubble.
The Shanghai market has gained 16 per cent this year, despite a 1 per cent slip yesterday, and has outperformed all other global equity markets. The smaller Shenzhen Composite has fared even better, rising almost 40 per cent, while the ChiNext index of mostly tech and health small-caps has jumped nearly two-thirds.
“The Chinese market is on fire right now,” said Chris Weston, chief market strategist at IG. “There is rampant speculation coming through.”
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