China’s Stock Market Closes In on $10 Trillion Milestone After Its Biggest Crash, Bloomberg reported 7/13/20, noting:
Yes, more or less, though it had a larger bubble years ago.
Greenland just closed at 8.19 yuan (at about 6.92 yuan/dollar), which is below the 52-week high of 9.49, reached in early July, but well above the 52-week low of 5.18.
Then again, in mid-2015, shortly after being listed on the Shanghai Stock Exchange, it spiked in the high 30s, and then spent a while above 10.
China’s domestic equities are worth about $9.5 trillion after this month’s rally, according to data compiled by Bloomberg as of July 12. The advance has taken two of its indexes to 2015 levels and made virtually all of the country’s stock benchmarks overheat. In local currency terms, China’s market cap is already at a record 66 trillion yuan.
But the $10 trillion level also marked the top of the bubble five years ago, a memory that’s still fresh in investors’ minds. Similarities between now and then have started to displease policy makers, who have taken steps to rein in stocks.Has Greenland Holding Group (aka Greenland Holdings Corp. and Greenland Holdings Group), parent of Atlantic Yards/Pacific Park master developer Greenland USA, participated in that bubble?
Yes, more or less, though it had a larger bubble years ago.
Greenland just closed at 8.19 yuan (at about 6.92 yuan/dollar), which is below the 52-week high of 9.49, reached in early July, but well above the 52-week low of 5.18.
Then again, in mid-2015, shortly after being listed on the Shanghai Stock Exchange, it spiked in the high 30s, and then spent a while above 10.
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