World’s Biggest Stock Markets Haven’t Been This Split Since 2008
- Shanghai share moves are at odds with the S&P 500 index
- Divergence is driven by China effort to rein in shadow banking
Trump Rally Shows Signs of Life
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The Chinese and U.S. stock markets are going in opposite directions.
An intensifying crackdown against leverage in Asia’s biggest economy has rocked the hither-to unflappable Shanghai Composite Index over the past week, sending it to a three-month low last session. In the U.S., the largest equity market is embracing a risk rally spurred by the French election, with the S&P 500 Index continuing to build on reflation-trade gains ignited by Donald Trump’s November victory.