Stock markets in China stay bullish
29 May 2006
Despite a widespread exodus from emerging markets in the past couple of weeks, China's stock markets stayed strong. While markets around the world have been hit by declines in the dollar and growing interest rates, these factors seem to have had less of an impact in China where losses of 4.1% last week were counterbalanced by average gains of 3.2% per week over the previous nine weeks. The Shanghai Composite Index is up 37% this year, buoyed in part by news that Beijing will lift the freeze on new IPOs. Still, stock market analysts can't say how the market will move next. Since the country began trading just over a decade and a half ago, authorities have discouraged predictions.
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