Market Extra: China’s stock market just jumped 6%. This is a good thing and Westerners should be glad. No, really.

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MarketWatch.com  – “After central banks flooded the world with money in the wake of the coronavirus crisis, retail investors rushed into the financial markets, sending stocks sharply higher, despite weak economic fundamentals.”

“On Monday, China’s CSI 300 000300, -1.81% index surged nearly 6%, bringing it to a 5-year high, and boosting equity markets around the world in its wake. In the year to date, the index is up 16%, outpacing most U.S. benchmarks, except the tech-heavy Nasdaq Composite COMP, +0.66% .”
“I don’t think that retail investors alone could drive the markets if it weren’t for the fundamentally good setup right now,” said Jan van Eck, CEO of asset manager VanEck.

 

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