A world-beating rally in Chinese stocks has turned into the biggest rout globally, shocking investors with the severity of its reversal and evading state efforts to slow the pace of losses.
China’s $1.3 Trillion Stock Rout Tests Limit of Intervention
Bloomberg 3/10/2021 Richard Frost
(Bloomberg) A world-beating rally in Chinese stocks has turned into the biggest rout globally, shocking investors with the severity of its reversal and evading state efforts to slow the pace of losses.
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In just 14 trading days, the nation’s benchmark CSI 300 Index has plummeted 14% from a 13-year high. That compares with a 2.2% drop by the MSCI All-Country World Index. The plunge has wiped out more than $1.3 trillion of value and hammered the holdings of retail investors who piled in at the peak, betting that the new lunar year of the Ox, or bull, would be auspicious. State intervention on Tuesday briefly arrested the tumble, before losses resumed.
Read more about China weighs tighter regulations on STAR Board IPOs, fintech curbs on Business Standard. Regulators have also pledged to rein in China s fintech firms, a move marked by the abrupt suspension of Ant s $35 billion listing