Credit Suisse: Chinese Markets Are a Replay of the Late ’90s Booms
And the dot-com bubble
Trading Chinese stocks must be stressful.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Investors are flipping through old playbooks for stock market swings that most closely mimic the stunning surge and subsequent steep drop-off in Chinese equities over the past year as they attempt to guess where shares are heading next.
Tom DeMark, founder of DeMark Analytics, thinks the Shanghai Composite will tumble to 3,200 in short order, mirroring the Dow Jones Industrial Average’s sharp descent in 1929 that heralded the start of the Great Depression.