What can stop the rally in Chinese equities? Nothing, it seems for the moment.
On Tuesday the Shanghai Composite Index added an additional 2%, closing at 4910.9.
Here are just a few statistics to show the scale of the recent rally.
- The index has now rallied for six consecutive sessions, adding a mind-boggling 14.6%.
- In the past two sessions it’s added 5.4%. For the past three that extends to 8.4%.
- At 10.4%, the four-day rally is now the largest recorded since December 2008.
- Year-to-date it has gained 51.8%.
- In the past year that increases to 114.5%.
- Today’s closing level is the highest seen since January 21, 2008.
What, possibly, could top that list tomorrow?