Despite the correction last week and the crazy volatility, the rise in China’s Shanghai Composite Index is good news for the over-
levered companies fortunate enough to be listed on the A share market.
It is even better for local investors who have piled in. In the long term, though, it is not clear whether it will be good or bad for the many foreign funds that have been either short the market or out of it altogether. There may be worse pain to come for these investors.
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