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BULL-IEVE IT OR NOT

China’s back in a bull market

People walk past a statue of bull in front of an investment company at a financial district in Beijing.
Reuters/Kim Kyung-Hoon
Back with a vengeance.
By Melvin Backman
Published Last updated This article is more than 2 years old.

Yes, China’s stock market crashed and burned over the summer. Yes, its economy is still having problems. And yes, everyone’s confused about what’s going to happen next.

But since the late August flop that sent stocks negative in Shanghai and dragged markets around the world down with it, things have really turned around: The SSE Composite is now more than 20% higher than its August lows.

A Wednesday (Nov. 4) rally, fueled by the potential for a new stock exchange link between Shenzhen and Hong Kong, was followed by a 1.8% move today (Nov. 5) to accomplish the feat. The index is up nearly 9% for the year, which is better than what they can say in London or New York.

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