Rocketing Chinese stocks fall to earth

Investor exuberance in soaring Chinese stocks have been checked by a one-day plunge in the stockmarket.

For most of the last three years, mainland Chinese stocks have gone nowhere. But in the past three months, they have gone beserk. The Shanghai Composite index has jumped by 40% since July and by 32% in the past six weeks.

Turnover on the stockmarket has increased fivefold to over 500 million yuan in the past few weeks. More than one million new stock-trading accounts were opened in November alone.

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Andrew Van Sickle
Editor, MoneyWeek

Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.

After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.

His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.

Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.