The Shanghai stock market is by far the best-performing market in the world this year and the Shanghai Composite index is the only leading equity market to have risen since Lehman Brothers went bankrupt in September.
Do Chinese investors know something the rest of the world does not?
Stock market analysts who follow the mainland market are divided over whether the gains for the Composite index – which has risen 33.2 per cent this year and 16.6 per cent since Lehman's failure – reflect a belief in a sustainable economic recovery or are merely another wild swing in a market ruled overwhelmingly by sentiment.
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