The $8 Trillion Penny Stock: China’s Market of Boom-Bust-Repeat
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It looks like the price chart of an over-the-counter penny stock: dizzying gains, abrupt U-turns, harrowing declines.
But this is no obscure security from the rough-and-tumble fringes of Wall Street. It’s China’s Shanghai Composite Index, the yardstick for an $8.1 trillion equity market -- the world’s largest after the U.S. -- where extreme volatility is becoming the norm.