BEIJING: It was a bumpy year for China’s markets, considering all the turbulence in relations with the US. Still, the final results really aren’t bad.
The Shanghai Composite Index closed off its best year since 2014, boosted by a huge rally in the first few months, when the country’s major equity benchmarks entered a bull market. While the yuan was whipsawed at times by every twist and turn in the trade dispute, it’s only weakened about 1.3% the past 12 months. Sovereign bonds rose, but lagged bigger gains in government-bond markets elsewhere.