The unbelievable rally in Chinese stocks has captured the attention of markets globally this year, and it’s also increasing the value of listed companies in the process.
According to a report from Bloomberg the value of Chinese stocks rose above $10 trillion for the first time last week, adding an astonishing $6.7 trillion to the market capitalisation of Chinese firms compared to levels of a year earlier.
To put the gain into perspective, based on calculations by Bloomberg, the 12-month increase is more than the entire market capitalisation of Japanese firms which currently sits around $5 trillion.
As is the case for total economic output, China’s market capitalisation is now ranked only second to the United States whose listed firms are currently valued at around $25 billion.
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