Last Thursday we posted the charts below noting that China’s Shanghai Composite was on the cusp of a new 52-week high.  Since Thursday, China has had two more trading sessions, and the Shanghai gained 2.01% on Friday and another 5.71% today.  These gains not only left China’s equity market at a new 52-week high, but it’s now at its highest level since February 2018.

As shown in the second chart below of the last five years for the Shanghai Composite, the downtrend that had been in place since highs in 2015 is now firmly broken.  The third chart of just the past year shows an index that has exploded higher over the last few days.  Click here to view Bespoke’s premium membership options for our best research available.

Print Friendly, PDF & Email