Business as usual as Chinese shares take flight yet again

Chinese shares, after a well-publicised drubbing late last week, have resumed normal proceedings today – they’re surging higher.

At the lunchtime break the Shanghai Composite is up 128 points, or 2.77%, at 4,739 points.

Shanghai Composite daily chart

Elsewhere the Shenzhen 300 has put on 2.91% while the Shenzhen Composite is up by another mind-boggling yet not unusual 3.5%.

Year to date they have now put on 46%, 41% and 107% respectively.

Earlier in the session Chinese manufacturing PMI data for May was released with the figure meeting market expectations.

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