China Stock Boom Has Morgan Stanley Ready for ‘Ultra-Bull
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That bull-market feeling is back in China.
The Shanghai Composite Index’s advance to a three-year high today extended its gain over the past month to 14 percent, trouncing all 92 of the world’s other benchmark equity indexes by at least six percentage points. Mainland investors are opening stock accounts at the fastest pace in three years, trading in Shanghai surged above 500 billion yuan ($81.3 billion) today for the first time and initial public offerings have returned an average 180 percent in 2014.