Chinese equity markets are displaying echoes of Dickens as investors in mainland stocks are experiencing the best of times and the worst of times.
This tale of two cities plays out between Shenzhen, whose composite index is Asia’s new star performer, and Shanghai, the better known and more established of China’s mainland markets.
Following the recent rout in global emerging markets, the Shenzhen composite – home to China’s small-caps index – is up 13.8 per cent this year, outpacing gains in the next best Asian market, the Philippines.
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