While there are parallels, market players expect a more sustained, slower rally this time around. Dai Ming, a Shanghai-based fund manager at Hengsheng Asset Management Co., says lessons have been learned by policymakers in the previous cycle.
SHANGHAI: Similarities between a speculative frenzy that this month added more than $1 trillion in value to China’s stock market and 2014’s debt-fueled binge left investors wondering if a new bubble was in the making.
Familiar signs of euphoria emerged before Beijing moved to cool the rally on Friday. Turnover soared, margin debt grew at the fastest pace since 2015 and a bullish state media helped spur sentiment.
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