‘Tech-tonic’ Shift May Be Taking Shape in China: Taking Stock
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Chinese stocks are doing something they haven’t done in a long time -- outperform their counterparts in the U.S.
In the past two weeks through last Friday, the Shanghai Composite surged almost 5% and racked up its longest four-day streak since February. This compares to declines of more than 1% for the benchmark indices in the U.S, or a complete turnaround from what we saw this year prior to this two week span, where the SHCOMP plunged ~23% versus gains of 3.5% in the S&P 500 and almost 8% for the Nasdaq.